Tariffs have emerged as one of the most important flash points in the 2024 presidential election. Former president Donald Trump has promised massive new duties of at least 10 percent on all imports, characterizing tariffs as a solution to everything from paying off the federal debt to helping solve the nation’s child-care crisis.

Vice President Kamala Harris has attacked Trump’s plan as a “national sales tax” that could send inflation soaring and cost the average American family thousands of dollars every year.
But how do tariffs work, and how would Trump’s plans affect the U.S. economy?

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