Trump plans high tariffs on imports to boost U.S. manufacturing

President-elect Donald Trump plans to impose high tariffs on imports, potentially reaching 60% on Chinese goods and 20% on others. He may use authorities from the 1930 Smoot-Hawley Tariff Act and existing trade laws to implement these tariffs. Trump's economic advisers support the tariffs as a way to boost U.S. manufacturing, but many economists warn of inflation and negative impacts on growth. Other countries are uncertain about the extent and purpose of these tariffs, preparing for possible retaliation. Congress has the power to regulate tariffs but has delegated much authority to the president. Some lawmakers are considering measures to limit Trump's tariff powers, especially as he seeks to fund tax cuts with tariff revenues.