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: Aย tariffย is aย taxย imposed by theย governmentย of a country or by aย supranational unionย onย importsย orย exportsย of goods. Besides being a source ofย revenueย for the government, import duties can also be a form of regulation ofย foreign tradeย 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?
Let us know in the comments below!
No comments