2min chapter

Planet Money Summer School cover image

Intro Econ 5: Trade & Santa

Planet Money Summer School

CHAPTER

The Effects of Tariffs on the Economy

Gains from trade disappear. All those possibilities to create joy that don't occur as a result of attacks or a tariff we call deadweight loss. And who is the loss that we're talking about there? The loss is people who can't afford a washing machine anymore because now it's 50 bucks more.

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