We can argue about the relative benefit/harms of specific tariffs (taxes on American consumers for foreign goods), but we know from the Laws of Economics—repeatedly proven by history—that tariffs are generally bad for the consumer and bad for the county. Canada is now retaliating against our tariff on soft woods. CANADA!
Trump slaps first tariffs on Canadian lumber
We can argue about the relative benefit/harms of specific tariffs (taxes on American consumers for foreign goods), but we know from the Laws of Economics—repeatedly proven by history—that tariffs are generally bad for the consumer and bad for the county. Canada is now retaliating against our tariff on soft woods. CANADA! A tariff is a tax or duty imposed by one nation on the imported goods or services of another nation. Tariffs are a political tool that have been used throughout history to control the amount of imports that flow into a country and to determine which nations will be granted the most favorable trading conditions. High tariffs create protectionism, shielding a domestic industry's products against foreign competition. High tariffs usually reduce the importation of a given product because the high tariff leads to a high price for the customers of that product. Read the rest of the article on Inc.com
Note: US tariffs are taxes paid by US citizens; they increase our cost of living. See video Hoover and the Great Depression (4:36) |
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