When a tariff or other price-increasing policy is put in place, the effect is to increase prices and limit the volume of imports. In the figure below, price increases from the non-tariff P* to P'.
Unlike in 2018, this time, China was prepared for the sanctions announced by the Trump administration. Also, Beijing is not too worried about a trade war with Washington. What are the reasons for this ...
The world over, policymakers and economy analysts are waiting nervously for newly inaugurated US President Donald Trump to announce tariffs against some or many countries. The expectation has been ...
A tariff is a tax on imported goods usually aimed at protecting local jobs and industries from foreign competition. The idea is that if foreign materials and products are more expensive ...