As ghosts and monsters prepare to strike this Halloween, Americans might find that what haunts them most are not the ghouls at the door—it's the price tags at the store. As stubborn inflation has eased, former President Donald Trump and President Joe Biden may spook Americans all over again by slapping tariffs on pretty much everything that dares cross U.S. borders, especially products from China.
Tariffs — taxes imposed on imported goods — are used by countries worldwide to protect domestic industries from foreign competition or unfair trade practices. Trump has long made them his top economic talking point, claiming that they would bring manufacturing back to the U.S. He has doubled down on tariffs this campaign, falsely arguing that they would help bring down prices for consumers.
