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Intro Econ 5: Trade & Santa

Planet Money Summer School

CHAPTER

The World of Tariffs

Robert Smith: Tariffs are really just a way for us to collect revenue from ourselves. Think of all the products you have that are made in another country. You might have paid a tariff on its import and not even know it. This is a huge subject of international law and negotiations. And there are so many fights over who pays what today.

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