How dangerous are these “Reciprocal tariffs”?
How dangerous are these “Reciprocal tariffs”? U.S. President Donald Trump has introduced “Reciprocal Tariffs” which approximately cost American people 5 Trillion U.S. dollars in just a few days. So, what could this decision by the President mean for you? What is a Tariff? A tariff is a form of tax, which the government charges on goods and services if the products and services are imported from other countries. Example U.S. business imports kid’s toys from China. Each toy costs $10 U.S tariff for China is 10% Profit for business is $5 The final Price of the toy is $16 However, a change in the percentage of tariffs would directly affect the final price of the product that the customer pays. To 5 U.S trading partners ...