What in the World Tariffs: Your super simple guide
Apr 7, 2025
Will Bain, a BBC business presenter, joins the discussion to demystify tariffs and their global repercussions. He explains how recent tariffs introduced by Donald Trump are affecting the U.S. economy and stock markets worldwide. Bain breaks down their purpose, revealing how these trade barriers can raise consumer prices and influence business strategies. The conversation also touches on the delicate balance between protecting American jobs and the risks of inflation and economic downturns. Tune in for an insightful look at this crucial topic!
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Tariffs Explained
- Tariffs are taxes on imported goods, paid at customs upon entry.
- Importers pay these and decide whether to absorb the costs or increase prices.
Tariff Use Cases
- Developing economies use tariffs to protect domestic industries from larger economies.
- This was seen in 2018 with the African Continental Free Trade Agreement debates.
Trump's Tariff Rationale
- Trump's tariffs aim to counter the perceived negative effects of globalization on American workers.
- He believes this has led to job losses and economic decline.