Trump's tariffs on US allies will shrink the savings Americans gained from tax cuts
The U.S. says it will impose tariffs on steel and aluminum imports from allies such as Canada, Mexico and the European Union.
While the White House acknowledges that these measures will lead to higher prices, the administration argues the effect will be tiny.
But combined with additional tariffs on Chinese imports and retaliatory steps taken by U.S. allies, economists across the political spectrum agree these levies will have a negative impact.
John Harwood | @johnjharwood
Published 6 Hours Ago Updated 31 Mins Ago