## Decoding Trump’s Tariffs: What They Are, Who Pays, and Why They Matter
Donald Trump’s penchant for tariffs has thrust US consumers and major trading partners like Canada, Mexico, and China into what some have called “the dumbest trade war in history.” Despite often misrepresenting their function, Trump has implemented tariffs on goods entering the US, prompting confusion and concern about their impact. So, what exactly are tariffs, and how do they affect the economy and your wallet?
Essentially, a tariff is a tax levied by the government on imported goods and services. As of February, a 10 percent tax was imposed on all products from China, with an additional 10 percent announced recently. Following a brief pause, tariffs on Canadian and Mexican goods also took effect on March 4th, reaching a substantial 25 percent. This tax impacts a wide range of products, from lumber to tomatoes.
The key question is: who ultimately bears the burden of these tariffs?
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