Americans need to understand tariffs
Let’s try to understand what President Trump’s new tariffs are, what they mean, who will pay for them. Also their impact on the American economy, on individual U.S. citizens, and America’s relations with the rest of the world. Tariffs used to be called “import duties.” They are paid, not by the nation that exports, but by the nation that imports. They are a tax, now between 10 and 60%, that American companies, large and small, must pay whenever they buy something from abroad. A great many American companies, we know from reading the labels, have their products manufactured ...