What is the expected impact of Trump's proposed tariffs on prices and jobs?

According to President Trump, while prices might go up somewhat in the short term, the long-term effect would be positive with prices eventually going down. He emphasized that jobs will increase 'tremendously,' creating employment opportunities 'for everybody.' Frank Holland of CNBC explained that tariffs are essentially taxes on imported goods paid by businesses and typically passed on to consumers. However, there's uncertainty about implementation, as the administration is conducting a study due by April 1, suggesting a strategic approach targeting specific trading partners rather than universal tariffs. This tailored approach could potentially boost the US economy and increase foreign investment, leading to the job growth Trump referenced.