this post was submitted on 04 Aug 2025
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Explain Like I'm Five
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Can you rephrase that question? I can't quite understand it
Ok for example Trump started a trade war with countries we buy from. So the tariffs will cause them to raise their prices on imports into the US but passing on the cost to the US consumer. I mean these countries are going to charge us more to make up for it right? So whose smart idea was it to think tariffs would not hurt the american people. I just really don't get it because don't we do good for ourselves and not hurt ourselves?
Seller does not have to raise the prices.
Importer (US company) pays the additional import tax (tariff) and then covers that by rising consumer prices.