Ahead of the planned 25% auto and retaliatory tariffs for April 2, Gretchen Blough, a customs broker manager, talks about the impact of trade and tariffs on importers.
A January surge in imports will have a negative impact on GDP in the near term. A protracted trade war would drag down economic growth in the long run.
Over the weekend, President Trump announced he’d be moving forward with tariffs starting tomorrow. Then, Mexico and the U.S. struck a deal to delay those tariffs for one month as the two negotiate border security.