In the weeks after Donald Trump won the election, he started talking about tariffs. “The world's most beautiful word in the dictionary is tariffs. It's my favorite word,” then President-elect Trump said.

Economists almost universally agree that the tariffs imposed by President Trump will cost the average American household hundreds, if not thousands, of dollars every year in higher goods costs. Why it matters: It's not yet clear those households can,

What to know as President Donald Trump imposes steep new tariffs on imports from Canada, Mexico and China, prompting retaliation and countermeasures.