President Trump’s Tariffs Take Effect This Tuesday 2/4/2025
Shoppers could see increases at the grocery store as soon as now–on everything from avocados to wheat, soybeans and alcohol.
Tarrifs of 10% will be placed on all imports from China, where the majority of the Unisted States electronics come from and 25% on imports from Mexico and Canada.
Mexico and Canada have said they will be countering with tariffs on American goods. China only said it will take countermeasures if necessary.
What Are Tarrifs: A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry.
Are you in favor of tariffs? How do you feel about Trump issuing tariffs against foreign nations?
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