Whose Tariffs Are Worse For The American Consumer?

President Joe Biden and former President Donald Trump share common ground on tariff policy. While some policymakers argue that tariffs can be a tool to protect and help grow domestic industries and ensure national security, tariffs may also result in unintended economic consequences that cost U.S. consumers billions. Trump's trade war tariffs generated about $233 billion in duties collected by U.S. Customs through March 2024, according to an analysis from the Tax Foundation. Watch the video above to find out which candidate's tariffs will be more expensive for the American consumer. Chapters: 0:00 Introduction 01:25 Chapter 1: Tariffs vs. inflation 03:43 Chapter 2: Common ground 09:13 Chapter 3: Global trade Produced and Edited by: Andrea Miller Animation: Christina Locopo Additional Camera: Carlos Waters Supervising Producer: Lindsey Jacobson Additional Footage: Getty Images » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC Whose Tariffs Are Worse For The American Consumer?