How Trump's tariffs plan might work

President-elect Donald Trump made a lot of economic promises on the campaign trail, but none as sweeping as his plan to enact tariffs. Trump believes taxing imports from other countries will help reduce the U.S. trade deficit and raise money for things like tax cuts. Today on the show, how might these tariffs work and will they work? Or is everything about to get more expensive?

Find more of Kyla Scanlon's work on YouTube and TikTok.

Related episodes:
What are Trump's economic plans (Apple / Spotify)
Why tariffs are SO back (Apple / Spotify)
Trade wars and talent shortages (Apple / Spotify)
A brief history of tariffs

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.