President Donald Trump isn’t expected to carry through on his threat to impose sweeping tariffs on the first day of his presidency, a move that economists have warned could lead to higher prices for Americans and hurt U.

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday said he would tariff and tax countries to enrich Americans, promised an overhaul of the trade system, and said the United States would establish an "external revenue service".

Tariffs are taxes on imported goods, and typically their costs are passed along by businesses to buyers of the products, including everyday consumers.