The day President Trump took office, he announced plans to implement a 25 percent tariff on goods from Mexico and Canada. Additional tariff conversations have exploded since that day. What could these mean to your personal finances and the economy? Today, we’ll explain a bit of the backstory of tariffs and discuss the possible financial pros and cons.

Here’s what we cover in this episode:

0:00 – Intro

0:53 – What is a tariff?

3:32 – History of tariffs

4:43 – Economic implications

8:30 – Benefits

10:45 – Market volatility

12:45 – Emotional reactions

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