Hey there! Have you ever heard of tariffs? 🤔 They’re like extra taxes that countries put on things they buy from other countries.
Recently, the United States has started putting new tariffs on some products. But Mark Greeven, an expert from the International Institute for Management Development (IMD), says that these tariffs might not be a good idea. 😮
According to Mr. Greeven, tariffs usually don’t help much. In fact, they can make things harder for businesses all around the world! 🌍
Why? Well, when countries add tariffs, it can make products more expensive. This can make it tougher for companies to buy and sell things. That means businesses might not grow as much, and the economy could slow down. 📉
Mr. Greeven predicts that in the short term, these tariffs could hinder, or slow down, business growth and the economic environment. That’s not great news for anyone! 😕
So, next time you hear about tariffs, you’ll know that they can have a big impact on businesses and the economy. Let’s hope that countries find better ways to work together! 🤝
Reference(s):
Academic: US tariffs to hinder business and economic environment
cgtn.com
