Hey there! 🤗 Have you ever heard about trade tariffs? They’re like special taxes that countries put on goods they buy from other countries. Let’s dive in and learn more about them!
Imagine you trade toys with your friends. One day, you decide to charge them extra candy if they want your toys. That’s similar to how countries use tariffs! They make imported goods more expensive to protect businesses in their own country.
Sometimes, when one country adds tariffs, other countries might respond by adding their own tariffs. This can lead to a trade war, where everyone keeps increasing taxes on each other’s goods. It’s like a snowball effect! ☃️
Tariffs can affect prices in stores. If a country taxes imported fruits, the price of oranges or bananas might go up! 🍊🍌 So, people might have to pay more for things they love.
It’s important for countries to work together and find friendly solutions. This helps keep prices fair and maintains good relationships between nations. 🌍🤝
Next time you hear about tariffs on the news, you’ll know they’re all about how countries trade and how it affects us all!
Reference(s):
Retaliation, inflation, disruption: What to take from Trump tariffs?
cgtn.com
