One of the favored talking points of President Trump is the trade deficit between the U.S. and China. And one of his favored solutions to remediate this imbalance is tariffs. Opponents argue tariffs hurt consumers by driving up the cost of imports and generating tension with trading partners. Proponents counter they can be necessary to pressure countries to play fair on trade. What is certain is their effects are complicated and undoubtedly impact you and your business in one way or another.