Throughout President-elect Donald Trump’s campaign, he spent a lot of time promoting tariffs. It's likely he will try to put these tariff plans into action quickly once he is in office. How could they impact the bottom lines of everyday Americans? We get into it.

In this week’s episode of Capitol Gains, Oxford Economics U.S. Chief Economist Ryan Sweet joins host Rachelle Akuffo, Washington Correspondent Ben Werschkul, and senior columnist Rick Newman to discuss the potential impact of Trump’s tariffs and whether or not people would actually see price increases from them.

Ultimately it will come down to how broad the tariffs will reach - whether it will hit countries in Europe, China, Mexico, etc - and what exactly is being taxed.

“Tariffs are going to be inflationary,” Sweet says. “The magnitude of the inflationary impact or the cost that you and I will feel really depends on how aggressive the Trump administration is, whether or not the tariffs are broad-based, which would mitigate some of the inflationary impacts. Or if they’re across the board and there’s really nowhere to hide, then you’re going to see the impact on inflation.”

To learn more, listen to the full episode of Capitol Gains here.

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This post was written by Lauren Pokedoff.