Who pays the price during a so-called Trade War? [Video]

RAPID CITY, S.D. (KOTA) – President Donald Trump’s administration officially launched tariffs on several countries including Canada, Mexico, and China Wednesday.

The global economy is interconnected, with nearly every single country relying on goods sourced from other countries.

With sweeping tariffs on goods come retaliatory tariffs, often causing a trade war, which, just like an actual war, has “collateral damage.”

Some people in KOTA Territory are trusting the process.

“I’m not an economist, but I do understand that tariffs do not cause inflation, but trade wars do. I’m concerned about the inflation rates that we have now, but I think under these policies, it’s going to be better down the road,” says Sean Ruppert, a consumer in KOTA Territory.

Professor of Economics at Creighton University Ernie Goss says most Americans support tariffs due to the lack of transparency.

“The problem with a tariff is when you go to Walmart and buy jeans from China, they don’t mark on there …