Tariffs, Trade, and the Economy
Turn on any news outlet, or pick up any news publication today and you’re likely to see or read about the tariffs that the U.S. has recently imposed on goods imported from China. Most people covering this developing story refer to what’s going on as a trade war. And most oversimplify the situation and exaggerate the potential impacts. So, we thought it would be a good idea to give an unbiased, non-political, review of tariffs. What they are, when they are good and when they are bad, what effects they tend to have on the economies of the imposing countries, and what effects they have on the economies of the countries having the tariffs imposed on their goods. We’ll leave the hyperbole out of the discussion.