As Trump touts tariffs, report claims they would cost the typical American $2,600 a year

The video discusses the implications of proposed tariffs by Donald Trump, which aim to boost US manufacturing by imposing tariffs on imported goods, especially from China. Vice President Harris and economists argue these tariffs act as a sales tax on Americans, potentially costing households over $2600 annually. Financial advisor Rob Wilson explains that tariffs are paid by importers, not foreign countries, and these costs are passed to consumers. The video also explores the potential for a global trade war and compares Trump's and Biden's tariff policies, highlighting the challenges of changing existing tariffs without affecting costs or international relations.

What challenges are associated with switching to domestic products due to tariffs?

How do the current tariff policies differ from those of the previous administration?