Hey there! 🌟 Have you heard about the latest news between the United States and Canada? Starting March 4th, the U.S. is adding a 25% extra charge, called a tariff, on all goods coming from Canada. But what does that mean, and why should we care?
What’s a Tariff?
A tariff is like a tax that countries charge on goods they buy from other countries. Imagine if you had to pay extra pocket money to buy candies from a friend in another class. That’s kind of what a tariff is!
Why Is This Happening?
The U.S. has decided to impose these tariffs on Canadian products. In response, Canada says it will also add tariffs on goods from the U.S. This means both countries are charging each other extra money on their products.
How Could This Affect Us?
These tariffs could make things more expensive. For example, if you love maple syrup from Canada or tasty snacks from the U.S., prices might go up! 🍁🍪 It can also affect jobs and businesses in both countries.
What’s Next?
Both countries are hoping to find a solution. Let’s keep an eye on how this story unfolds! 👀
Reference(s):
cgtn.com
