Trade and Tariffs.
I’m working on a Economics question and need guidance to help me study.
There is often talk in the news recently about increasing tariffs on some imports. Watch the video (Incidence of a Tariff) to prepare for this week’s discussion.
- When the United States puts tariffs on imports, who do you think ultimately pays these tariffs? Is it the foreign companies selling here, American consumers, or both? Explain your answer.
- Is it good or bad for American consumers when the United States puts tariffs on imports?