Ever wonder how tariffs impact your daily life and the global economy? You'll learn that tariffs are taxes paid by domestic importers, not foreign exporters, and how they reshape trade for everyone.
Tariffs, often framed as taxes on foreign goods, actually cost American consumers and businesses billions. A recent study estimated that U.S. tariffs imposed between 2018 and 2019 cost U.S. importers and consumers $167.5 billion.
These costs aren't absorbed by foreign producers; they're primarily passed on to U.S. businesses and ultimately, American shoppers.