President Trump’s tariffs could raise costs

WASHINGTON (NEXSTAR) – There’s growing concern about the new tariffs President Donald Trump announced on Thursday. The tariffs are on countries he says have taken advantage of the U.S.

President Trump says the new tariffs will put the country on a level playing field when it comes to global trading, but some lawmakers worry, they could end up making everyday goods more expensive for American families.

“Most important thing I’ve signed, and I’ve signed some important things,” said Trump.

In a move that could dramatically reshape global trade president Trump signed an executive order enforcing reciprocal tariffs, meaning the U.S. will charge countries the same tariffs they impose on American goods.

“Prices could go up short term but ultimately prices are going to go down,” said Trump.

North Carolina Democratic Congressman Don Davis isn’t convinced and says it could drive up already-high prices, particularly in key industries like agriculture.

“We cannot overlook the well-known effects that tariffs have on our agriculture communities,” said Davis.

India’s prime minister paid a visit to the White House Thursday for a meeting with the president where the two leaders talked about trade.

“We are being reciprocal with India, whatever, India charges we charge them. So frankly it no longer matters to us that much what they charge,” said Trump.

The tariffs are expected to take effect in April.

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