Tariffs on steel and aluminum are proposed to be set at 25% for steel and 10% for aluminum.
Watch the video Tariffs and Protectionism to prepare for this week’s discussion.
Reply to these questions in your post:
Who do you think will ultimately pay these tariffs? Explain your answer.
Describe a good or service you use that has been impacted by trade or globalization. What are some advantages and/or disadvantages you have experienced?
Discuss globalization with your peers: please respond to classmate post
Who do you think will ultimately pay these tariffs? Explain your answer. Tariffs is just a fancy word for taxes on imports, so when we set higher tariffs on goods ( 25% for steel and 10% for aluminum) so domestic prices will fall and the domestic production will increase, thus trickling down the cost to the consumer but benefits the government.
Describe a good or service you use that has been impacted by trade or globalization. What are some advantages and/or disadvantages you have experienced? Farmers has been affected by these tariffs, which we see higher prices on produce. Its so bad that the government had to give billions to help them stay afloat, which decreases the governments profits. But, since there going after higher tariffs on China and just set new tariffs on Mexico they (Government) seems determined to make a profit.
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