Everything you need to know about Donald Trump's tariffs | ABC NEWS

Donald Trump is slapping tariffs on a range of products from other countries.
Tariffs are basically a tax on goods coming into America, paid by the company bringing them in.
That cost is often passed on to consumers in the form of higher prices.
The US President believes tariffs will ultimately help grow the US economy by increasing tax revenue and make imported products more expensive than ones made in America.
He hopes that means companies will open new factories in the US, employing more Americans.
But economists say they could do more harm than good, and cause higher inflation, higher interest rates, and even send the US economy into a recession.

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