Jonathan Nicholson covers Capitol Hill and campaigns for HuffPost. His Twitter is @JNicholsonInDC.
President Donald Trump arrives to speak at the 2025 House Republican Members Conference Dinner at Trump National Doral Miami in Doral, Fla., Monday, Jan. 27, 2025.said on Monday he intended to put tariffs on a wide swath of products and basic materials in American life, a prospect that could lead to prices shooting higher for US consumers.
Trump also listed aluminum and copper as potential tariff targets as “things that we need for our military.”Trump has often incorrectly said tariffs — charges put on goods imported into the US — are paid by the country the goods originate from. Companies that bring in the goods actually pay the tariffs.Economists are almost unanimous that tariffs are passed from those companies to shoppers in the form of higher prices on store shelves.
Production of computer chips, semiconductors and drugs has moved to Taiwan, Trump said, “And we want them back.”He criticised one of former President Joe Biden’s signature bills, a bipartisan one named the “CHIPS and Science Act” that provided incentives for companies to manufacture computer chips in the US.
“They’re going to build their factory with their own money. We don’t have to give them money,” he said.Trump’s appearance at the annual event was meant to unify and pump up the rank-and-file members for the tough political battles ahead as Republicans try to finally settle on the specifics of what they will pass on border security policy, boosting defense spending, taxes, and possibly hiking the limit on the US government’s debt.
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