Trump plans new tariffs on imports, risks hitting US economy
Donald Trump is looking to slap new tariffs on things like big batteries, plastic pipes, industrial chemicals, and telecom equipment.
This follows a Supreme Court decision that blocked some older tariffs.
The plan was first reported by The Wall Street Journal.
Average household could see $800 in extra yearly costs
If these tariffs kick in (starting today and running for 150 days), most imports would get hit with a 10% fee—jumping to 15% tomorrow.
Some stuff from Canada and Mexico is exempt.
Experts say this could mean about $800 extra in yearly costs for the average household, especially if you buy electronics or cars.
Plus, it might bump up unemployment slightly and slow down the economy by $30 billion a year.
Congress still has to approve any extension of these tariffs—and not everyone's on board.