Episode 282: Tariffs, Tariffs, Tariffs!

Every week brings a new headline from the administration — this time, about tariffs. The International Trade Court just struck down the president’s latest round, ruling he overstepped his authority. The Constitution is clear: Congress, not the president, has the power to impose tariffs under Article I, Section 8. To dig deeper into what tariffs are and what they do, L. Joy brings professor Ryan Monarch to the front of the class. L. Joy and Ryan Monarch discuss how tariffs are taxes on imported goods. They raise costs for importers, which are passed on to consumers through higher prices. While once the federal government’s main source of revenue, tariffs today make up just 3–4% of total federal income.