Hmmmm…Everything you wanted to know about Tariffs or Not!
Click the link below the picture
.
What is a Tariff?
A tariff is a tax that a government places on goods imported from other countries. It’s usually charged as a percentage of the product’s value, and are often used to protect local industries by making imported goods more expensive, which encourages consumers to buy products made within their own country. Donald Trump wants to “re-shore manufacturing, and drive economic growth for the American people“. Tariffs can be good for domestic manufacturers and workers, because they reduce competition from cheaper foreign products, thus helping to protect jobs and support local businesses.
However, higher tariffs can also have negative effects. They often lead to higher prices for consumers, since companies pass the extra cost on to buyers. They can also hurt businesses that rely on imported materials or sell goods overseas, especially if other countries respond by imposing their own tariffs, triggering a trade war. Over time, this can slow economic growth and increase tension between trading partners.
.
.
.
Click the link below for the complete article:
.
__________________________________________
James' World 2 
Leave a comment