Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 2 months agoELI5 how tariffs work. Are they not just like taxes one country puts on another? If so why do people especially republicans keep with Trump on imposing? Would it not hurt the US?message-squaremessage-square19fedilinkarrow-up11arrow-down10
arrow-up11arrow-down1message-squareELI5 how tariffs work. Are they not just like taxes one country puts on another? If so why do people especially republicans keep with Trump on imposing? Would it not hurt the US?Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 2 months agomessage-square19fedilink
minus-squareintensely_human@lemm.eelinkfedilinkEnglisharrow-up0·2 months agoIt is literally paid, first, by the company that imports the goods. It is then paid again by the consumer in the higher price that they charge, and it it then paid again by the Chinese exporter in terms of reduced volume of exports.
It is literally paid, first, by the company that imports the goods.
It is then paid again by the consumer in the higher price that they charge, and it it then paid again by the Chinese exporter in terms of reduced volume of exports.