CNN —
President Donald Trump is set to impose his tariffs over the weekend, gambling that taxing American companies for imported goods will ultimately punish the countries that make stuff Americans want – and bring those nations to the negotiating table. But it’s a risky bet that could easily backfire on American consumers and the economy.
In the United States, tariffs typically serve a limited but important purpose: They are intended to grow America’s economy by incentivizing the purchase of made-in-the-USA goods. They accomplish that by effectively penalizing American companies that buy foreign goods with high
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