President Donald Trump promised to “protect” U.S. industry with tariffs during his campaign. Overnight, the Trump administration imposed tariffs on three U.S. allies: Canada, Mexico and the European Union. All three have vowed to retaliate with tariffs of their own that will affect American products, foreshadowing a trade war that could raise prices for items that everyday Americans depend on. Daniel Ikenson from the Cato Institute joins the show to talk about what these tariffs mean for you.

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