Advertisement
You have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.
Everything You Need to Know About the Trump Tariffs
They have upended diplomatic relations with America’s largest trading partners, sent markets tumbling and provoked retaliations on U.S. products.
President Trump has levied new tariffs on goods imported from Mexico, Canada and China, risking a damaging trade war. The three countries account for more than a third of the products brought into the United States.
The United States hadn’t seen so many tariffs in nearly 100 years, when the Smoot-Hawley Tariff Act helped deepen the Great Depression, historians say.
Mr. Trump argues that tariffs can help U.S. factories and raise revenue for the government. But his recent actions have also upended diplomatic relations with America’s largest trading partners, sent markets tumbling and provoked retaliations on U.S. products.
What are tariffs? How do they function? And who really pays for them? The answers are not always simple or obvious, and require understanding how manufacturing, trade and supply chains work.
What are tariffs, and how do they work?
A tariff is a government surcharge on products imported from other countries.
Understanding tariffs means understanding how manufacturing, trade and supply chains function — and how costs build along the way.
Advertisement
Leave a Reply