Excerpt
IsImpact of International Trade Tariffs
In March of this year, the Trump Administration made good on campaign promises by announcing a new global trade policy that it believes will better serve Americans. Specifically, it features:
25 percent tariff on imported steel
10 percent tariff on imported aluminum
25 percent tariff on approximately 1,300 Chinese exports worth about $50 billion a year
Over the past few decades, more goods and services worldwide have been allowed compete with domestic products and services sans taxes. This increased competition resulted in lower prices for consumers, enhanced productivity and efficiency, and increased revenues for manufacturers. However, it also led to a substantial loss of jobs as some U.S. companies moved manufacturing operations to other countries to take advantage of reduced labor and overhead costs.......
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