President Trump, an avowed fan of tariffs, authorized a wave of new import duties Saturday on America's three closest trading partners — Mexico, Canada and China. The tariffs on Mexico and Canada were later put on pause for a month. Although tariffs are a bane to most economists, they ...
What Are the Effects of Tariffs? Although tariffs may offer short-term benefits, they also come with long-term tradeoffs that can negatively affect domestic businesses and consumers, as well as a country’s economic efficiency, innovation, and relations with other countries. Potential negative conseq...
That’s generally a response to the loss of US manufacturing jobs, widely attributed to unfettered tree trade and and China’s ascent as a manufacturing power. Tariffs are intended mainly to protect domestic industries By raising the price of imports, tariffs can protect home-grown manufacturers....
Not all goods in a given China tariff category are created equal: if “major processing” occurred outside of China before the products were imported, the goods may not be considered “Chinese-origin,” and such goods may not be affected by the 301 tariffs. “Major processing” ref...
A container port in Shenzhen, China. Yinwei Liu / Getty Images What Are Tariffs? A tariff is a type of tax levied by a country on an imported good at the border. Historically, tariffs have been used by governments to collect additional revenue. But they are also a way for governments ...
Tariffs are one of the oldest trade policy instruments, withtheir use dating backto at least the 18th century. Historically, the main objective of a tariff was to raise revenue. In fact, before ratifying the16th Amendmentin 1913 and formally creating the income tax, the U.S.government raised...
“Historically, tariffs have been more targeted, or strategic, than what we’ve seen in 2025,” Hamrick said. “Among the potential impacts are a disruption or financial challenges for businesses within the U.S. forced to decide whether to pay the taxes or forgo the orders.” ...
However, a protracted trade conflict with the US would be a complex shock to our economy. Firms are now looking for duty and import minimization strategies in cases where they have not had to consider them (i.e., in a CUSMA free trade territory). This article outl...
On Wednesday, a report on the Oxford Economics also said that the new US administration's tariffs will likely exacerbate the "slowbalisation" globally. In contrast to uncertainty from the US, China's positive role for the global economy has been highlighted by major international economic ...
AP AUDIO: Fast fashion, laptops and toys are likely to cost more due to US tariffs on Chinese imports AP correspondent Julie Walker reports on how President Trump’s tariffs on China will affect popular consumer products and a lot more. The U.S. imported about $427 billion worth of goods...