Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 1 month 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-square22fedilinkarrow-up146arrow-down15
arrow-up141arrow-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 · 1 month agomessage-square22fedilink
minus-squarekitnaht@lemmy.worldlinkfedilinkEnglisharrow-up6·edit-21 month agohttps://www.reuters.com/article/economy/who-pays-trumps-tariffs-china-or-us-customers-and-companies-idUSKCN1TK1V7/ And those importers are US-based companies. China doesn’t pay. The importer does. They are paid by U.S.-registered firms to U.S. customs for the goods they import into the United States.
https://www.reuters.com/article/economy/who-pays-trumps-tariffs-china-or-us-customers-and-companies-idUSKCN1TK1V7/
And those importers are US-based companies. China doesn’t pay. The importer does.