Hey there! Have you ever heard of a trade war? It’s not a battle with ships or armies, but it can still affect people all around the world—including you!
Recently, the President of the United States announced a 25% tariff (that’s like a special tax) on steel and aluminum coming into the country. He also talked about making other countries pay the same amount of taxes that they charge the U.S. This idea has made many people around the world worried.
Professor C. Veeramani, an expert from India, says that if countries start putting extra taxes on each other’s goods, it could lead to a trade war. And guess what? In a trade war, there are no real winners. “A trade war is not good for anyone,” he says.
So why is that? Well, think of it like this: If your favorite candy suddenly cost twice as much because of extra taxes, you’d probably buy less of it, right? The candy store might lose money, and you wouldn’t get to enjoy your treats. Now imagine that happening with lots of things people buy and sell all over the world!
Professor Veeramani believes that trade wars can hurt economies and lead to fewer jobs. That means fewer opportunities for people everywhere. It’s important for countries to work together to solve problems so everyone can benefit.
What do you think about this? How can countries cooperate to make sure trade is fair for everyone?
Reference(s):
cgtn.com
