For example, in February 2025, President Trump implemented a 25% tariff on imports from Canada and Mexico and a 10% tariff on imports from China. There's also a 10% tariff on energy resources from ...
Trump’s executive order on tariffs on Chinese products is a blanket 10 percent tax on everything coming in from the country. His proposed plans for Canada and Mexico are similarly broad: everything ...
One reason governments use tariffs is to protect domestic industries. However, tariffs can have downsides, including reducing the purchasing power of consumers.
Suppose, for example, that the U.S. government levied a new 10% tariff on cars imported from Japan. The tariff would push the price of a $50,000 Japanese vehicle to $55,000. So, because the ...