Don_DickleM to Explain Like I'm FiveEnglish • 1 day 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-square16arrow-up132arrow-down14
arrow-up128arrow-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_DickleM to Explain Like I'm FiveEnglish • 1 day agomessage-square16
minus-square@[email protected]linkfedilinkEnglish1•8 hours agoIt is literally paid, first, by the company that imports the goods. It is then paid again by the consumer in the higher price that they charge, and it it then paid again by the Chinese exporter in terms of reduced volume of exports.
minus-square@kitnahtlinkEnglish2•edit-25 hours 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.
It is literally paid, first, by the company that imports the goods.
It is then paid again by the consumer in the higher price that they charge, and it it then paid again by the Chinese exporter in terms of reduced volume of exports.
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.
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