The Truth About Tariffs & How They Work

One piece of Donald Trump’s economic plan is to impose sweeping tariffs on other countries, particularly China. Tariffs are neither inherently good nor inherently bad. They are a tool which, when used strategically, can remedy trade imbalances, protect certain domestic industries, or influence other countries to improve their trade, wage or human rights practices. But it’s the American companies that pay tariffs. And those companies end up passing that "tax" onto the consumer in the form of higher prices. So the American consumer ends up footing the bill for tariffs.Nov. 17, 2024