Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 13 days 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-square21fedilinkarrow-up137arrow-down15
arrow-up132arrow-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 · 13 days agomessage-square21fedilink
minus-squarenednobbinslinkfedilinkEnglisharrow-up3·12 days agoEvery serious economist agrees that they’re a terrible idea. Most people aren’t economists so they think it will help the US compete with China. The missing piece is that most people assume that reactions to tariffs are very different from what they actually are.
Every serious economist agrees that they’re a terrible idea. Most people aren’t economists so they think it will help the US compete with China.
The missing piece is that most people assume that reactions to tariffs are very different from what they actually are.