[SEKYFAN]

The tariffs that Trump imposed during his first term created one of the largest tax increases in decades. Some of the effects of those tariffs were felt during Biden's term as well. The soy bean business was almost destroyed by those tariffs and the large farmers were bailed out by taxpayer money in the form of subsidies.

The new tariffs will cost the average American approximately $2500 annually in higher pricing on consumer goods. The cost for American businesses is not really known at this time, but job losses are expected to be in the 100,000-150,000 range.