Jesse Pound,CNBC
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President Donald Trump's newly announced tariffs on goods from Colombia could drive up the price of some items Americans buy every day.
Trump said in a social media post Sunday that he would immediately impose a blanket 25% tariff on all goods coming into the U.S. from Colombia, among other sanctions. The announcement came after Colombia rebuffed a U.S. military flight of deported migrants. Trump also said that the tariffs would soar to 50% in a week.
A tariff is effectively a tax on goods when they are brought into a country. While the importing...
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