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What to Know
- Tariffs are fees U.S.-based companies pay the federal government when they import affected products into the United States.
- Tariffs raise the cost of doing business outside the United States.
- Trump administration officials have argued that the higher costs from tariffs are worth it for the increase in manufacturing jobs that would be created over the long-term.
President Donald Trump is set to announce a sweeping plan Wednesday to place tariffs on potentially trillions of dollars’ worth of goods imported into the United States. Follow along for live updates.
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