{"id":24161,"date":"2025-04-17T12:38:29","date_gmt":"2025-04-17T19:38:29","guid":{"rendered":"https:\/\/dornsife.usc.edu\/news\/?p=24161"},"modified":"2025-04-17T13:16:33","modified_gmt":"2025-04-17T20:16:33","slug":"impact-of-tariff-plans-explained-by-economist","status":"publish","type":"post","link":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/","title":{"rendered":"Economist explains impact of Trump\u2019s tariff plans"},"content":{"rendered":"\n\n\n    \n                                          \n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--article-hero \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--article-hero\"\n    \n      >\n\n    \n<div class=\"inner-wrapper\">\n          \n<div class=\"f--field f--image\">\n\n    \n    \n    \n    \n    \n    \n              \n      <img\n                            data-src=\"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top-768x432.jpg\"\n          data-srcset=\"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top-1920x1080.jpg 1920w,https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top-1280x720.jpg 1280w,https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top-768x432.jpg 768w\"          data-sizes=\"(min-width:1200px) 75vw, (min-width:768px) 83vw, 100vw\"          class=\"lazyload\"\n        \n                  alt=\"A color visualization of global shipping routes shows the outline of continents\"\n        \n        \n                                      \/>\n\n    \n    \n  \n  \n\n<\/div>\n  \n      <div class=\"image-caption\">\n          \n<div class=\"f--field f--description\">\n\n    \n  Countless ships move millions of goods between countries each year, so many so that tracing their routes creates an outline of the continents. (Image source: Kiln\/<a href=\"https:\/\/www.shipmap.org\/\" target=\"_blank\">Shipmap<\/a>.)\n\n\n<\/div>\n    <\/div>\n  \n  <div class=\"text-wrapper\">\n          <nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\">\n        <ul>\n                      <li><a href=\"\/news\/stories\/\">News<\/a><\/li>\n                      <li><a href=\"\/news\/stories\/\/?category=social-impact\">Social Impact<\/a><\/li>\n                  <\/ul>\n      <\/nav>\n    \n              \n<div class=\"f--field f--page-title\">\n\n    \n  <h1>Economist explains impact of Trump\u2019s tariff plans<\/h1>\n\n\n<\/div>\n    \n          <div class=\"subtitle\">\n            \n<div class=\"f--field f--description\">\n\n    \n  After recent tariff news from President Donald Trump\u2019s administration, USC Dornsife economist Monica Morlacco discusses who the import taxes will affect and when \u2014 and what the long-term effects may be.\n\n\n<\/div>\n      <\/div>\n    \n           <strong class=\"author-field\"><span >By<\/span><a href=\"mailto:communication@dornsife.usc.edu\">Ileana Wachtel<\/a><\/strong>\n    \n          <span class=\"post-date-field\">April 17, 2025<\/span>\n      <\/div>\n<\/div>\n\n\n  <\/div><\/div>\n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--social-share \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--social-share\"\n    \n      >\n\n    \n  <div class=\"content-wrapper\">\n    <span class=\"a2a_kit a2a_kit_size_32 addtoany_list\" style=\"line-height: 32px;\">\n      <span class=\"title\">\n        Share\n      <\/span>\n                        <a class=\"a2a_button_copy_link\" target=\"_blank\" href=\"\/#copy_link\" rel=\"nofollow noopener\" title=\"Link\">\n            <span class=\"a2a_svg a2a_s__default a2a_s_copy_link\">\n              <svg height=\"19\" viewBox=\"0 0 19 19\" width=\"19\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"m7.43475275 9.52380952-2.17490843 2.26076008c-1.08745421 1.058837-1.68841575 2.518315-1.68841575 4.0350275 0 1.5167124.60096154 2.9475732 1.68841575 4.0350274 1.058837 1.0874543 2.51831502 1.6884158 4.03502747 1.6884158 1.44087681 0 2.80427251-.5423678 3.86936601-1.5289606l.1656615-.1594552 2.2321428-2.2321428-1.6311813-1.6311813-2.2321429 2.26076c-.6581959.658196-1.5167124 1.0016026-2.43246332 1.0016026s-1.7742674-.3434066-2.43246337-1.0016026c-.65819597-.6581959-1.00160257-1.5167124-1.00160257-2.4324633 0-.8547009.2991453-1.6595442.87416905-2.2981957l.12743352-.1342677 2.23214286-2.2321429zm6.88661855-.40736607-5.26116068 5.26116075 1.61881868 1.6188186 5.2611607-5.2611607zm1.3837569-5.54501488c-1.4408768 0-2.8042725.54236779-3.869366 1.52896062l-.1656615.15945513-2.23214282 2.23214286 1.63118132 1.63118132 2.2321429-2.23214286c.6581959-.65819597 1.5167124-1.00160256 2.4324633-1.00160256s1.7742674.34340659 2.4324634 1.00160256 1.0016026 1.51671246 1.0016026 2.43246337c0 .85470089-.2991453 1.65954419-.8741691 2.29819559l-.1274335.1342678-2.2321429 2.2321428 1.5739469 1.5739469 2.2321429-2.2321428c1.0874542-1.058837 1.6884157-2.5183151 1.6884157-4.03502751 0-1.51671245-.6009615-2.94757326-1.6884157-4.03502747-1.058837-1.08745421-2.518315-1.68841575-4.0350275-1.68841575z\" transform=\"translate(-3 -3)\"\/><\/svg>\n            <\/span>\n            <span class=\"a2a_label visually-hidden\">Copy Link<\/span>\n          <\/a>\n                                <a class=\"a2a_button_facebook\" target=\"_blank\" href=\"\/#facebook\" rel=\"nofollow noopener\" title=\"Facebook\">\n            <span class=\"a2a_svg a2a_s__default a2a_s_facebook\">\n              <svg height=\"19\" viewBox=\"0 0 19 19\" width=\"19\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"m23.9512 6h-16.9024c-.57923625 0-1.0488.46956375-1.0488 1.0488v16.9024c0 .5792362.46956375 1.0488 1.0488 1.0488h9.10024v-7.34768h-2.46772v-2.87584h2.46772v-2.11508c0-2.45404 1.49872-3.79012 3.68828-3.79012.7389668-.00263323 1.4775241.03516995 2.21236.11324v2.56348h-1.51392c-1.18788 0-1.4174.56544-1.4174 1.39612v1.8316h2.84772l-.37088 2.87584h-2.47684v7.34844h4.83284c.5792362 0 1.0488-.4695638 1.0488-1.0488v-16.9024c0-.57923625-.4695638-1.0488-1.0488-1.0488z\" fill-rule=\"evenodd\" transform=\"translate(-6 -6)\"\/><\/svg>\n            <\/span>\n            <span class=\"a2a_label visually-hidden\">Facebook<\/span>\n          <\/a>\n                                <a class=\"a2a_button_twitter\" target=\"_blank\" href=\"\/#twitter\" rel=\"nofollow noopener\" title=\"X\">\n            <span class=\"a2a_svg a2a_s__default a2a_s_twitter\">\n              <svg version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" x=\"0px\"\n\t y=\"0px\" viewBox=\"0 0 30 30\" enable-background=\"new 0 0 30 30\" xml:space=\"preserve\" width=\"19\" height=\"19\">\n<path fill=\"#000\" fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M14.5,16.2l-0.8-1.1l-6.3-9h2.7l5.1,7.3l0.8,1.1\n\tl6.6,9.4h-2.7L14.5,16.2L14.5,16.2z M16.9,13.4l7.4-8.7h-1.8l-6.5,7.5L11,4.8H5l7.8,11.4L5,25.2h1.8l6.8-7.9l5.5,7.9h6L16.9,13.4\n\tL16.9,13.4z\"\/>\n<\/svg>\n\n            <\/span>\n            <span class=\"a2a_label visually-hidden\">X<\/span>\n          <\/a>\n                                <a class=\"a2a_button_linkedin\" target=\"_blank\" href=\"\/#linkedin\" rel=\"nofollow noopener\" title=\"Linkedin\">\n            <span class=\"a2a_svg a2a_s__default a2a_s_linkedin\">\n              <svg height=\"19\" viewBox=\"0 0 19 19\" width=\"19\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"m25 21.4220779c0 1.974026-1.6038961 3.5779221-3.5779221 3.5779221h-11.84415582c-1.97402598 0-3.57792208-1.6038961-3.57792208-3.5779221v-11.84415582c0-1.97402598 1.6038961-3.57792208 3.57792208-3.57792208h11.84415582c1.974026 0 3.5779221 1.6038961 3.5779221 3.57792208zm-14.5584416-12.21428569c-.98701295 0-1.60389606.61688311-1.60389606 1.48051949-.12337663.8636364.49350649 1.4805195 1.48051946 1.4805195.987013 0 1.6038961-.6168831 1.6038961-1.4805195 0-.86363638-.6168831-1.48051949-1.4805195-1.48051949zm1.3571429 12.70779219v-8.6363636h-2.83766234v8.6363636zm10.2402597 0v-4.9350649c0-2.5909091-1.3571428-3.8246753-3.3311688-3.8246753-1.4805195 0-2.0974026.8636363-2.4675325 1.4805194v-1.2337662h-2.8376623v8.6363636h2.8376623v-4.9350649c0-.2467532 0-.4935065.1233767-.7402597.1233766-.4935065.6168831-.987013 1.4805194-.987013.987013 0 1.4805195.7402597 1.4805195 1.974026v4.564935z\" transform=\"translate(-6 -6)\"\/><\/svg>\n            <\/span>\n            <span class=\"a2a_label visually-hidden\">LinkedIn<\/span>\n          <\/a>\n                                <a class=\"a2a_button_bluesky\" target=\"_blank\" href=\"\/#bluesky\" rel=\"nofollow noopener\" title=\"Bluesky\">\n            <span class=\"a2a_svg a2a_s__default a2a_s_bluesky\">\n              <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"50px\" height=\"50px\" viewBox=\"0 0 24 24\">\n                <path fill=\"#00000\" d=\"M12 10.8c-1.087-2.114-4.046-6.053-6.798-7.995C2.566.944 1.561 1.266.902 1.565C.139 1.908 0 3.08 0 3.768c0 .69.378 5.65.624 6.479c.815 2.736 3.713 3.66 6.383 3.364c.136-.02.275-.039.415-.056c-.138.022-.276.04-.415.056c-3.912.58-7.387 2.005-2.83 7.078c5.013 5.19 6.87-1.113 7.823-4.308c.953 3.195 2.05 9.271 7.733 4.308c4.267-4.308 1.172-6.498-2.74-7.078a8.741 8.741 0 0 1-.415-.056c.14.017.279.036.415.056c2.67.297 5.568-.628 6.383-3.364c.246-.828.624-5.79.624-6.478c0-.69-.139-1.861-.902-2.206c-.659-.298-1.664-.62-4.3 1.24C16.046 4.748 13.087 8.687 12 10.8\"  fill-rule=\"evenodd\" \/>\n              <\/svg>\n            <\/span>\n            <span class=\"a2a_label visually-hidden\">Bluesky<\/span>\n          <\/a>\n                                <a class=\"a2a_button_email\" target=\"_blank\" href=\"\/#email\" rel=\"nofollow noopener\" title=\"E-mail\">\n            <span class=\"a2a_svg a2a_s__default a2a_s_print\">\n              <svg height=\"12\" viewBox=\"0 0 18 12\" width=\"18\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"m8.14285714 9.42857143c-.17142857 0-.34285714 0-.51428571.08571428l7.28571427 6.34285719c.3428572.2571428.6857143.2571428.9428572 0l7.2857142-6.34285719c-.0857142-.08571428-.2571428-.08571428-.4285714-.08571428zm-1.28571428 1.11428567v.1714286 8.5714286c0 .6857143.6 1.2857143 1.28571428 1.2857143h14.57142856c.6857143 0 1.2857143-.6 1.2857143-1.2857143v-8.5714286c0-.0857143 0-.0857143 0-.1714286l-7.2 6.3428572c-.7714286.6857143-1.8857143.6857143-2.6571429 0z\" fill-rule=\"evenodd\" transform=\"translate(-6 -9)\"\/><\/svg>\n            <\/span>\n            <span class=\"a2a_label visually-hidden\">Email<\/span>\n          <\/a>\n                  <\/span>\n  <\/div>\n\n  <\/div><\/div>\n \n\n\n\n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--rich-text \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--rich-text\"\n    \n      >\n\n    \n      \n<div class=\"f--field f--wysiwyg\">\n\n    \n  <p>President Donald Trump\u2019s recent announcement of sweeping tariffs on major U.S. trading partners sparked sharp reactions from foreign leaders, pundits, investors and others.<\/p>\n<p><a href=\"https:\/\/dornsife.usc.edu\/profile\/monica-morlacco\/\">Monica Morlacco<\/a>, assistant professor of <a href=\"https:\/\/dornsife.usc.edu\/econ\/\">economics<\/a> at the USC Dornsife College of Letters, Arts and Sciences, explains the economic thinking behind the administration\u2019s latest tariffs \u2014 now paused for 90 days (except on China) \u2014 and their potential impact on American consumers and industries.<\/p>\n<p>In an earlier<a href=\"https:\/\/dornsife.usc.edu\/news\/stories\/tariffs-explained-by-economics-professor-trade-expert\/\"> Q&amp;A<\/a>, she explained what tariffs are and how they\u2019ve been used historically.<\/p>\n<p><strong>How were the tariff percentages for each country determined?<\/strong><\/p>\n<p>On April 2, President Trump announced new import tariffs on goods from approximately 90 countries. These tariffs \u2014 now paused for 90 days, except on China \u2014 were added on top of a 10% general tax already applied to all U.S. imports.<\/p>\n<p>The stated goal was to reduce what\u2019s known as a trade deficit, which occurs when a country buys (imports) more goods from another country than it sells (exports) to that country. If imports and exports are equal, trade is considered \u201cbalanced.\u201d<\/p>\n<p>There\u2019s no inherent reason why trade must be balanced between every pair of countries. A country might import more than it exports for many reasons, not necessarily related to unfair trade \u2014 like if another country can grow food more cheaply because of its climate.<\/p>\n<p>Still, the U.S. government argued that trade deficits were a problem and that raising tariffs would help fix them. The logic: If imported goods become more expensive due to tariffs, U.S. imports would decline and trade would become more balanced.<\/p>\n<p>Officials said they used the following formula to determine tariff rates:<\/p>\n<div style=\"text-align: center; margin-top: 2em; margin-bottom: 2em;\">\n<math xmlns=\"http:\/\/www.w3.org\/1998\/Math\/MathML\"><mi>Tariff<\/mi><mo>=<\/mo><mfrac><mrow><mi>exports<\/mi><mo>&#8211;<\/mo><mi>imports<\/mi><\/mrow><mrow><mi>&#x3f5;<\/mi><mo>*<\/mo><mi>imports<\/mi><\/mrow><\/mfrac><\/math>\n<\/div>\n<p>Here, &#x3f5; is the so-called \u201ctrade elasticity,\u201d which measures how sensitive imports are to price changes. They used a value of 2, based on some studies. This formula was meant to set the tariff at a level that would eliminate the trade deficit. However, many economists have argued that this approach lacks a sound economic rationale.<\/p>\n<p><strong>How will these tariffs impact consumer prices, and when might increases occur?<\/strong><\/p>\n<p>Tariffs are taxes placed on goods entering the country. When the government imposes a tariff, it increases costs for U.S. consumers and businesses that rely on imported products.<\/p>\n<p>The impact on consumer prices depends on several factors \u2014 such as whether the item is a finished product or a component used in producing other goods \u2014 and how much of the added cost is passed on to consumers. This \u201ctariff passthrough\u201d plays a key role in how tariffs affect the market. For example, U.S. manufacturers that rely on imported steel to produce cars or appliances will face higher component costs, which can lead to higher prices for the final products. Studies of past tariff episodes show that companies typically pass on a large share of these increased costs to consumers.<\/p>\n<p>The timing of price increases varies. It depends on how long companies can draw from existing inventories and how soon they need to restock at the higher, post-tariff prices. For frequently restocked items, price hikes may appear within weeks or months. For others, it may take longer to see the effects.<\/p>\n<p>Overall, tariffs tend to raise prices and reduce product variety \u2014 particularly for goods primarily produced abroad.<\/p>\n<p><strong>Which industries are expected to be most affected by the tariffs?<\/strong><\/p>\n<p>Industries most affected will be those heavily integrated into international trade, particularly those that depend on imported inputs. These include electronics, energy, food processing, transportation equipment, machinery, and manufacturing.<\/p>\n<p>Around 50% of value added in the manufacturing sector involves global value chains \u2014 production processes where inputs are sourced from multiple countries. Many products rely on these imported components or raw materials. With the imposition of tariffs, these inputs become more expensive, raising production costs for U.S. firms.<\/p>\n<p>Industries that are more import-intensive or deeply embedded in cross-border supply chains will experience the most significant impact.<\/p>\n<p><strong>What are the potential long-term economic effects of these tariffs?<\/strong><\/p>\n<p>In the long term, the main concern may not be the tariffs themselves but the climate of uncertainty they create. Tariffs often trigger retaliation from trading partners, leading to extended negotiations and rising diplomatic tensions. That uncertainty can escalate into a costly trade war \u2014 one that disrupts global supply chains and rattles investor confidence.<\/p>\n<p>When faced with an unpredictable policy environment, companies may delay investment and hiring decisions, adopting a \u201cwait and see\u201d approach. This hesitation can lead to a slowdown in business activity and economic growth.<\/p>\n<p>Although the direct impact of tariffs may be modest \u2014 since international trade accounts for a relatively small share of the U.S. GDP (gross domestic product) \u2014 the broader shift toward protectionism and rising geopolitical tensions could have more significant economic consequences over time. Reduced international cooperation, disrupted supply chains and lower investment could all weigh on long-term growth.<\/p>\n\n\n\n<\/div>\n\n\n  <\/div><\/div>\n\n\n\n  \n        \n  \n    \n\n\n\n\n\n\n<div\n  class=\"cc--component-container cc--article-related-stories \"\n\n  \n  \n  \n  \n  \n  \n  >\n  <div class=\"c--component c--article-related-stories\"\n    \n      >\n\n    \n  <div class=\"inner-wrapper\">\n              \n<div class=\"f--field f--section-title\">\n\n    \n  <h2>\n          Related stories\n      <\/h2>\n\n\n<\/div>\n    \n                  <article>\n              \n<div class=\"f--field f--cta-title\">\n\n    \n  <h3>\n          <a href=\"https:\/\/dornsife.usc.edu\/news\/stories\/tariffs-explained-by-economics-professor-trade-expert\/\" \n                        class=\"\" \n      >Tariffs: What are they, who pays for them and who do they benefit?<\/a>\n      <\/h3>\n\n\n<\/div>\n        <\/article>\n              <article>\n              \n<div class=\"f--field f--cta-title\">\n\n    \n  <h3>\n          <a href=\"https:\/\/dornsife.usc.edu\/news\/stories\/how-trump-taunts-and-tariff-added-to-justin-trudeau-woes\/\" \n                        class=\"\" \n      >Trudeau taps out: How Trump\u2019s taunts and tariff threats added to domestic woes confronting Canada\u2019s long-standing PM<\/a>\n      <\/h3>\n\n\n<\/div>\n        <\/article>\n              <article>\n              \n<div class=\"f--field f--cta-title\">\n\n    \n  <h3>\n          <a href=\"https:\/\/dornsife.usc.edu\/news\/stories\/why-trump-finds-greenland-strategically-appealing\/\" \n                        class=\"\" \n      >Expert on Arctic politics explains Greenland\u2019s strategic appeal<\/a>\n      <\/h3>\n\n\n<\/div>\n        <\/article>\n            <\/div>\n\n\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>After recent tariff news from President Donald Trump\u2019s administration, USC Dornsife economist Monica Morlacco discusses who the import taxes will affect and when \u2014 and what the long-term effects may be.<\/p>\n","protected":false},"author":13,"featured_media":24162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[50,24],"tags":[111,87],"class_list":["post-24161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","category-social-impact","tag-economics","tag-expert-viewpoint"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Economist explains impact of Trump\u2019s tariff plans<\/title>\n<meta name=\"description\" content=\"A USC Dornsife economist discusses recent import taxes, who they will affect and when \u2014 and what the long-term effects may be\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The impact of Trump\u2019s tariff plans explained\" \/>\n<meta property=\"og:description\" content=\"A USC Dornsife economist discusses recent import taxes, who they will affect and when \u2014 and what the long-term effects may be\" \/>\n<meta property=\"og:url\" content=\"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/\" \/>\n<meta property=\"og:site_name\" content=\"USC Dornsife News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/uscdornsife\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-17T19:38:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-17T20:16:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1150\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Liu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@uscdornsife\" \/>\n<meta name=\"twitter:site\" content=\"@uscdornsife\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/\"},\"author\":{\"name\":\"Michael Liu\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#\\\/schema\\\/person\\\/d03084ed5319ed7575c96017879a7447\"},\"headline\":\"Economist explains impact of Trump\u2019s tariff plans\",\"datePublished\":\"2025-04-17T19:38:29+00:00\",\"dateModified\":\"2025-04-17T20:16:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/\"},\"wordCount\":8,\"publisher\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/7\\\/2025\\\/04\\\/morlacco-tariffs-qna2_top.jpg\",\"keywords\":[\"economics\",\"expert viewpoint\"],\"articleSection\":[\"Politics\",\"Social Impact\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/\",\"url\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/\",\"name\":\"The impact of Trump\u2019s tariff plans explained\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/7\\\/2025\\\/04\\\/morlacco-tariffs-qna2_top.jpg\",\"datePublished\":\"2025-04-17T19:38:29+00:00\",\"dateModified\":\"2025-04-17T20:16:33+00:00\",\"description\":\"A USC Dornsife economist discusses recent import taxes, who they will affect and when \u2014 and what the long-term effects may be\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/#primaryimage\",\"url\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/7\\\/2025\\\/04\\\/morlacco-tariffs-qna2_top.jpg\",\"contentUrl\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/7\\\/2025\\\/04\\\/morlacco-tariffs-qna2_top.jpg\",\"width\":2000,\"height\":1150,\"caption\":\"A color visualization of global shipping routes shows the outline of continents\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/impact-of-tariff-plans-explained-by-economist\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economist explains impact of Trump\u2019s tariff plans\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/\",\"name\":\"USC Dornsife News\",\"description\":\"USC Dornsife news and events\",\"publisher\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#organization\",\"name\":\"USC Dornsife News\",\"url\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/7\\\/2024\\\/01\\\/USC-Dornsife-Cardinal-Black-on-White-RGB.jpg\",\"contentUrl\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/7\\\/2024\\\/01\\\/USC-Dornsife-Cardinal-Black-on-White-RGB.jpg\",\"width\":1000,\"height\":330,\"caption\":\"USC Dornsife News\"},\"image\":{\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/uscdornsife\",\"https:\\\/\\\/x.com\\\/uscdornsife\",\"https:\\\/\\\/www.instagram.com\\\/uscdornsife\\\/\",\"https:\\\/\\\/www.youtube.com\\\/user\\\/USCCollege\",\"https:\\\/\\\/www.linkedin.com\\\/school\\\/uscdornsife\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/#\\\/schema\\\/person\\\/d03084ed5319ed7575c96017879a7447\",\"name\":\"Michael Liu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/16962c8d3900280cb2e47f931ab45f9c2432ea07c167e9c00a6c2f8a0ec3d61f?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/16962c8d3900280cb2e47f931ab45f9c2432ea07c167e9c00a6c2f8a0ec3d61f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/16962c8d3900280cb2e47f931ab45f9c2432ea07c167e9c00a6c2f8a0ec3d61f?s=96&d=mm&r=g\",\"caption\":\"Michael Liu\"},\"url\":\"https:\\\/\\\/dornsife.usc.edu\\\/news\\\/stories\\\/author\\\/liumk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Economist explains impact of Trump\u2019s tariff plans","description":"A USC Dornsife economist discusses recent import taxes, who they will affect and when \u2014 and what the long-term effects may be","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/","og_locale":"en_US","og_type":"article","og_title":"The impact of Trump\u2019s tariff plans explained","og_description":"A USC Dornsife economist discusses recent import taxes, who they will affect and when \u2014 and what the long-term effects may be","og_url":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/","og_site_name":"USC Dornsife News","article_publisher":"https:\/\/www.facebook.com\/uscdornsife","article_published_time":"2025-04-17T19:38:29+00:00","article_modified_time":"2025-04-17T20:16:33+00:00","og_image":[{"width":2000,"height":1150,"url":"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top.jpg","type":"image\/jpeg"}],"author":"Michael Liu","twitter_card":"summary_large_image","twitter_creator":"@uscdornsife","twitter_site":"@uscdornsife","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/#article","isPartOf":{"@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/"},"author":{"name":"Michael Liu","@id":"https:\/\/dornsife.usc.edu\/news\/#\/schema\/person\/d03084ed5319ed7575c96017879a7447"},"headline":"Economist explains impact of Trump\u2019s tariff plans","datePublished":"2025-04-17T19:38:29+00:00","dateModified":"2025-04-17T20:16:33+00:00","mainEntityOfPage":{"@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/"},"wordCount":8,"publisher":{"@id":"https:\/\/dornsife.usc.edu\/news\/#organization"},"image":{"@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/#primaryimage"},"thumbnailUrl":"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top.jpg","keywords":["economics","expert viewpoint"],"articleSection":["Politics","Social Impact"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/","url":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/","name":"The impact of Trump\u2019s tariff plans explained","isPartOf":{"@id":"https:\/\/dornsife.usc.edu\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/#primaryimage"},"image":{"@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/#primaryimage"},"thumbnailUrl":"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top.jpg","datePublished":"2025-04-17T19:38:29+00:00","dateModified":"2025-04-17T20:16:33+00:00","description":"A USC Dornsife economist discusses recent import taxes, who they will affect and when \u2014 and what the long-term effects may be","breadcrumb":{"@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/#primaryimage","url":"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top.jpg","contentUrl":"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2025\/04\/morlacco-tariffs-qna2_top.jpg","width":2000,"height":1150,"caption":"A color visualization of global shipping routes shows the outline of continents"},{"@type":"BreadcrumbList","@id":"https:\/\/dornsife.usc.edu\/news\/stories\/impact-of-tariff-plans-explained-by-economist\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/dornsife.usc.edu\/news\/"},{"@type":"ListItem","position":2,"name":"Economist explains impact of Trump\u2019s tariff plans"}]},{"@type":"WebSite","@id":"https:\/\/dornsife.usc.edu\/news\/#website","url":"https:\/\/dornsife.usc.edu\/news\/","name":"USC Dornsife News","description":"USC Dornsife news and events","publisher":{"@id":"https:\/\/dornsife.usc.edu\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/dornsife.usc.edu\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/dornsife.usc.edu\/news\/#organization","name":"USC Dornsife News","url":"https:\/\/dornsife.usc.edu\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/dornsife.usc.edu\/news\/#\/schema\/logo\/image\/","url":"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2024\/01\/USC-Dornsife-Cardinal-Black-on-White-RGB.jpg","contentUrl":"https:\/\/dornsife.usc.edu\/news\/wp-content\/uploads\/sites\/7\/2024\/01\/USC-Dornsife-Cardinal-Black-on-White-RGB.jpg","width":1000,"height":330,"caption":"USC Dornsife News"},"image":{"@id":"https:\/\/dornsife.usc.edu\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/uscdornsife","https:\/\/x.com\/uscdornsife","https:\/\/www.instagram.com\/uscdornsife\/","https:\/\/www.youtube.com\/user\/USCCollege","https:\/\/www.linkedin.com\/school\/uscdornsife"]},{"@type":"Person","@id":"https:\/\/dornsife.usc.edu\/news\/#\/schema\/person\/d03084ed5319ed7575c96017879a7447","name":"Michael Liu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/16962c8d3900280cb2e47f931ab45f9c2432ea07c167e9c00a6c2f8a0ec3d61f?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/16962c8d3900280cb2e47f931ab45f9c2432ea07c167e9c00a6c2f8a0ec3d61f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/16962c8d3900280cb2e47f931ab45f9c2432ea07c167e9c00a6c2f8a0ec3d61f?s=96&d=mm&r=g","caption":"Michael Liu"},"url":"https:\/\/dornsife.usc.edu\/news\/stories\/author\/liumk\/"}]}},"_links":{"self":[{"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/posts\/24161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/comments?post=24161"}],"version-history":[{"count":8,"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/posts\/24161\/revisions"}],"predecessor-version":[{"id":24180,"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/posts\/24161\/revisions\/24180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/media\/24162"}],"wp:attachment":[{"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/media?parent=24161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/categories?post=24161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dornsife.usc.edu\/news\/wp-json\/wp\/v2\/tags?post=24161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}