If Trump adds tariffs, ‘either way, there is a cost to consumers,’ economist says

U.S. consumers would likely see prices increase if President-elect Donald Trump follows through with a plan to levy import tariffs, experts said Tuesday during CNBC’s Financial Advisor Summit.

“Either way, there is a cost to consumers,” said Erica York, senior economist at the Tax Foundation.

A tariff is a tax placed on imported goods. Tariffs are paid by U.S. companies that import those goods.