this post was submitted on 18 Oct 2024
38 points (89.6% liked)

Explain Like I'm Five

14263 readers
141 users here now

Simplifying Complexity, One Answer at a Time!

Rules

  1. Be respectful and inclusive.
  2. No harassment, hate speech, or trolling.
  3. Engage in constructive discussions.
  4. Share relevant content.
  5. Follow guidelines and moderators' instructions.
  6. Use appropriate language and tone.
  7. Report violations.
  8. Foster a continuous learning environment.

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
38
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? (lemmy.world)
submitted 4 weeks ago by [email protected] to c/[email protected]
20 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 11 points 4 weeks ago (1 children)

In some cases if you don’t tariff it, the US consumer ends up paying for it in the long run. Artificially underpriced products are meant to drive domestic industries and other competitors out of business. You then end up with a monopoly that charges exorbitant prices at a later date and everyone domestically is out of a good paying job.

[–] [email protected] 6 points 4 weeks ago

That already happens domestically with large players. See Amazon and basically every small business out there. And we don't even get a bunch of jobs for it, because Amazon has mastered the use of robotics to minimize job production.