President Trump's new round of tariffs took effect today. It will bring in billions of dollars to the government, in part paid for by U.S. importers who can decide whether to pass that cost onto American families. But are these tariffs legal? Today on the show, the arguments for and against the president's tariffs and what happens to that tariff revenue if Trump loses. Related episodes:<a href="https://www.npr.org/2025/02/05/1229167003/mckinley-trump-tin-tariffs">Trump's tariff role model</a><a href="https://www.npr.org/2025/04/23/1246593582/donald-trump-tariffs-trade-marc-fisher-michael-kranish">Dealmaker Don v. Tariff Man Trump</a> For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at <a href="http://plus.npr.org/">plus.npr.org</a>. Fact-checking by <a href="https://www.npr.org/people/g-s1-26724/sierra-juarez">Sierra Juarez</a>. Music by <a href="https://dropelectric.bandcamp.com/">Drop Electric</a>. Find us: <a href="https://www.tiktok.com/@planetmoney">TikTok</a>, <a href="https://www.instagram.com/planetmoney/">Instagram</a>, <a href="https://www.facebook.com/planetmoney">Facebook</a>, <a href="https://www.npr.org/newsletter/money">Newsletter</a>. Learn more about sponsor message choices: <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a> <a href="https://www.npr.org/about-npr/179878450/privacy-policy">NPR Privacy Policy</a>

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