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What are tariffs and why is Trump using them? – Grahak Chetna

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What are tariffs and why is Trump using them?

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US President Donald Trump is set to announce further tariffs later on 2 April, which he has suggested will hit all countries, and could take effect immediately.
He has already introduced a series of taxes covering steel, aluminium and car imports as well as all goods from China.
Trump argues the measures – which make foreign goods more expensive – will help US manufacturers and protect jobs. However, prices could go up for consumers.
Tariffs are taxes charged on goods imported from other countries.
Typically, tariffs are a percentage of a product’s value. For example, a 25% tariff on a $10 (£7.76) product would mean an additional $2.50 charge.

Courtesy: BBC

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