Post Reports Trump’s tariffs are finally here. Now what?
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Aug 7, 2025 
David Lynch, a trade expert at The Washington Post and author of "The World’s Worst Bet," dives into the implications of recent tariffs on consumer prices and the economy. He discusses how tariffs act like taxes on imports, prompting businesses to adjust pricing strategies and seek exemptions. Lynch also explores the legal complexities surrounding presidential authority to impose tariffs, alongside the international trade implications, particularly with countries like India and Brazil. This insightful conversation reveals the broader effects on market dynamics and job performance.
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Tariffs Vary by Country and Product
- Tariffs vary by country, ranging from 10% to 50%, affecting goods from about 90 countries.
- Importers face higher costs, complicating supply chains and increasing prices for consumers.
What Are Tariffs?
- A tariff is a tax on imports to encourage buying American-made goods.
- This tax raises prices on foreign products, aiming to reduce reliance on imports.
Who Pays the Tariffs?
- Imported goods' tariffs are paid by U.S. importers, not foreign countries.
- Customs agencies assess and collect tariffs when goods enter U.S. ports.