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Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 7 months ago

ELI5 how tariffs work. Are they not just like taxes one country puts on another? If so why do people especially republicans keep with Trump on imposing? Would it not hurt the US?

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ELI5 how tariffs work. Are they not just like taxes one country puts on another? If so why do people especially republicans keep with Trump on imposing? Would it not hurt the US?

Don_Dickle@lemmy.worldM to Explain Like I'm Five@lemmy.worldEnglish · 7 months ago
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  • intensely_human@lemm.ee
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    7 months ago

    It is literally paid, first, by the company that imports the goods.

    It is then paid again by the consumer in the higher price that they charge, and it it then paid again by the Chinese exporter in terms of reduced volume of exports.

    • kitnaht@lemmy.world
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      7 months ago

      https://www.reuters.com/article/economy/who-pays-trumps-tariffs-china-or-us-customers-and-companies-idUSKCN1TK1V7/

      And those importers are US-based companies. China doesn’t pay. The importer does.

      They are paid by U.S.-registered firms to U.S. customs for the goods they import into the United States.

    • kitnaht@lemmy.world
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      7 months ago

      deleted by creator

    • FourPacketsOfPeanuts@lemmy.world
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      7 months ago

      Is there an exemption, say, if a Chinese person were immigrating to the US and they already owned an EV for several years and wanted to bring it with them? Or is there a massive import duty on things like that?

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