Tariffs are essentially a tax on consumers of imported goods. It really is just that simple.
When imported goods suddenly cost more, domestic goods usually cost more too due to loss of competition..
techpineapple · 15h ago
Especially since things have changed higher than lower, I have trouble getting my head around what the exact impact of tariffs are, has anyone created like a data-driven website showing all the impacts of the tariffs?
jqpabc123 · 14h ago
I have trouble getting my head around what the exact impact of tariffs are
Here is how it works:
1) When WalMart imports goods from a foreign country, they receive a bill from Homeland Security listing the tariff amount due on the shipment. If WalMart don't pay, their next shipment gets impounded by customs until the outstanding bill is paid.
2) When WalMart pays extra, they raise prices so you pay extra.
3) The US government has more money. You have less money (due to price inflation). Yaaay taxes!!!
NOTE: Contrary to some repeated claims (aka lies), tariff bills are never sent to any foreign country. Because the US government has no means of forcing them to pay.
When imported goods suddenly cost more, domestic goods usually cost more too due to loss of competition..
Here is how it works:
1) When WalMart imports goods from a foreign country, they receive a bill from Homeland Security listing the tariff amount due on the shipment. If WalMart don't pay, their next shipment gets impounded by customs until the outstanding bill is paid.
2) When WalMart pays extra, they raise prices so you pay extra.
3) The US government has more money. You have less money (due to price inflation). Yaaay taxes!!!
NOTE: Contrary to some repeated claims (aka lies), tariff bills are never sent to any foreign country. Because the US government has no means of forcing them to pay.