Donald Trump’s tariffs, explained

If you unrecorded successful the US, congratulations - you are present a ft worker successful what has been called "the dumbest commercialized warfare successful history." And if you unrecorded successful 1 of the apical 3 countries that commercialized astir with the US (Canada, Mexico, and China), apologies: you are portion of this arsenic well.

Donald Trump loves tariffs contempt regularly misrepresenting however they work, and aft months of saying helium would enforce them connected goods coming into the US, helium made bully connected his committedness this week: determination is a 10 percent tax connected each products from China imposed arsenic of February, positive an other 10 percent announced this week. After pausing tariffs connected Canadian and Mexican goods past month, those besides use arsenic of March 4th - a whopping 25 percent connected our neighbors that volition impact everything from lumber to tomatoes.

There's a heavy misunderstanding of tariffs, successful portion acknowledgment to Trump's mendacious claims. Who pays tariffs? What bash they really do? How bash they impact consumers? Let's speech astir it.

What's a tariff, exactly?

Leave the connection "tariff" speech for a 2nd and deliberation astir it similar this: it's a tax. Specifically, tariffs are a taxation acceptable by the authorities connected goods and services that travel from abroad. They tin beryllium wide reachin …

Read the afloat communicative astatine The Verge.