Trump's Tariffs: Will the New President's Plan Prove Successful?

Published: 1/18/2025, 7:59:50 PM EST

President-elect Donald Trump has a plan. He says he’s going to impose tariffs across the globe to make up for unfair trade practices. Some economists warn these tariffs could be catastrophic for Americans, who may pay the price for the higher cost of goods. Will the wildfire disaster in California change Trump’s plan? How will he convince countries to provide vital resources the United States may need? Trump says he wants to create an External Revenue Service to collect the tariffs. Will he need approval from Congress? Meet our panel of experts on trade and tariffs: Christian Briggs, CEO of Hard Asset Management Inc., and Kenneth Rapoza, analyst at the Coalition for a Prosperous America.