President Trump announced a 25% tariff on foreign steel and a 10% tariff on foreign aluminum. This proclamation exempted Mexico and Canada and left open the possibility of exempting other countries.
Paul Craig Roberts, Economist and Senior Research Fellow at Stanford University
Chad Bown, Senior Fellow at the Peterson Institution for International Economics, explained how tariffs work and some of their advantages and disadvantages. Using the example of President Trump's proposal for tariffs on steel and aluminum, he discussed the reason for and potential impacts of tariffs.