This week, we learned about international trade, tariffs, and the restrictions and obstacles that some countries go through to export and import products. Tariffs can be understood as a tax levied on imported goods.
In your initial post, address the following:
Tariffs create winners and losers. President Trump has proposed several tariffs on imports from foreign countries. Describe in detail the outcome you would predict, an increase in US production, in turn, benefitting the US economy or will inflation occur hurting the US economy?
If the US raises tariffs out of a desire for goods to be made domestically, describe how you suppose other countries will respond. Remember this will cause many of the foreign countries to have excess goods.
Share your own perspective on how international tariffs might impact you. Consider the impact tariffs have on your life or that of your family.