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Stock indexes dropped sharply this week after President Trump announced he's imposing a new round of tariffs on products from nearly all countries.
China announced it's imposing a 34% tax on U.S. goods starting next week.
NPR's Ron Elving reports.
Trump believes it will be worth it in the long run.
They say the retaliation we're seeing from China and elsewhere will be transitory.
They say our trading partners will knuckle under and lower their own tariffs.
And most important,
they say American companies will bring home the jobs that they've shifted overseas and
that other countries will shift their manufacturing to the U.S. creating jobs here rather than in their own countries.
NPR's Ron Elving.
Many American shopkeepers are getting ready to order their supplies for the critical holiday shopping season.
Now many are trying to calculate how much these shipments will actually cost given sweeping new tariffs on virtually all imports.
NPR's Alina Selyuk reports.
Tariffs get paid by Americans, American importers,