Civics 101 How are tariffs affecting American businesses?
Jul 14, 2025
Jason Matthews, a renowned game designer famous for Twilight Struggle and 1960: The Making of a President, shares insights on how tariffs are reshaping the board game industry. He highlights the staggering price hikes and production hurdles stemming from fluctuating tariffs, especially a notable 145% increase on imports from China. Despite these challenges, Matthews emphasizes the passion that drives designers, even as many face shrinking profit margins and legal battles. The conversation sheds light on the broader implications for American manufacturing and local businesses.
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Tariff Revenue Hits New Heights
- The U.S. collected $97 billion from tariffs in the first half of 2025, up from $58.3 billion the previous year.
- Tariff revenue is on track to break a record set in 2022 of $102 billion for the full year.
Tariff Money Funds Government
- Tariff money goes into the U.S. Treasury's general fund and is spent by Congress as part of the federal budget.
- Since the 18th century, tariffs have funded the government, starting with the Tariff of 1789.
Tariffs Collected at U.S. Ports
- The U.S. Customs and Border Protection collects tariffs at ports, requiring importers to pay before goods clear.
- Tariff rates are fixed when goods leave their country, preventing changes during transit ("on the water clause").