CNN —
Need a new computer, television or phone? You might want to consider getting one now.
That’s because President Donald Trump enacted a new 10% across-the-board tariff on Chinese goods Tuesday morning.
Economists warn that tariffs hurt American businesses and consumers, many of whom are still reeling from the sharp rise in inflation in recent years. Tariffs are paid by US importers, not the countries at which the tariffs are aimed, as Trump has claimed. Those costs are often passed on to retailers and eventually American consumers.
Unlike Mexico and Canada,
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