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What is a tariff? It is a “fee or duty” on imported goods.
What is the purpose of a tariff? It’s designed to discourage us from buying goods from a certain country, and to discourage that country from exporting them to us.
Who pays this tariff? The importer pays this surcharge to the U.S. government.
Who really pays? We do, since the importer raises the price on these goods.
Do tariffs work? They often backfire when the other country retaliates and no longer imports our goods, causing our businesses to decline and increase unemployment.
Kamala Harris calls this a “tax” because it acts like a tax and raises prices on goods we buy.
Donald Trump says it’s not a tax; he wants to put tariffs on much of what is imported into our country. And he has a bachelor’s degree in economics?
William King