Republicans have historically been pro-tariff, meaning they support increasing taxes on imported goods to protect American-based companies. One of Trump’s campaign promises during his 2024 presidential run was to raise tariffs on certain nations. Recently, President Trump announced significant tariffs on imports coming from China, Mexico, and Canada which are aimed at addressing issues like drug trafficking and illegal immigration. These include a 25% tariff on Mexico and Canada as well as a 10% tariff on Chinese energy imports. 

These new tariffs are expected to affect various facets of daily life. Items like cars, groceries, and electronics are expected to become more expensive. It is estimated that these tariffs will cost American households an additional $1,000 a year as per AP news here.  Additionally, businesses that face higher import costs may have to reduce hiring or lay off workers. This can lead to slower economic growth and even inflation as per the financial times. Canada and Mexico have announced retaliatory tariffs which can have serious consequences to the growth of the American economy as U.S. products will become less competitive abroad. 

Supporters of tariffs say it is necessary to protect American industries while others argue that tariffs harm the economy and disrupt relations with foreign nations. Looking ahead it is important to stay informed about how trade policy affects the economy and daily life in America and abroad. Trump’s trade policy is ongoing and could change in the future.