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Would tariffs on imports expand the economy, or shrink it?

Latest GDP numbers show economy is performing better than thought

Would tariffs on imports expand the economy, or shrink it?
STR/AFP/Getty Images

The Commerce Department said today the economy grew more than thought in the third quarter of this year. The department now says Gross Domestic Product  grew at an annual rate of 3.5 percent — up from the preliminary 3.2 percent. If President-elect Donald Trump raises tariffs on imports, as he says he will, how will that affect GDP?

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Would tariffs on imports expand the economy, or shrink it?