Hey everyone! Have you heard about tariffs lately? 🧐 Let’s break down what’s happening with President Trump and why some people, even his friends, are upset.
What are tariffs?
Tariffs are like taxes that countries put on things they buy from other countries. For example, if the U.S. buys toys from another country, a tariff would make those toys more expensive. This can make people buy more things made in the U.S.
What’s happening now?
On April 9, President Trump said he would pause (stop) some high tariffs for 90 days. Just before that, he had put new tariffs on goods from about 60 countries! 😲
But why the sudden change? President Trump said that people were getting “yippy and afraid” because the stock market was going down. The stock market is where people buy and sell shares of companies, and it’s important for the economy.
Who’s upset?
Lots of people are worried about these tariffs, including:
- Business Leaders: People like Elon Musk, who runs Tesla, are concerned because tariffs can make it harder to do business.
- Republican Senators: Even some members of President Trump’s own party are speaking out.
- Fans and Supporters: Some of President Trump’s biggest fans think the tariffs might hurt the economy.
What are people saying?
Senator Ted Cruz from Texas said that tariffs are like a tax on consumers (that’s us!). He worries that they could make things more expensive for American families.
Another Senator, Rand Paul from Kentucky, also doesn’t agree with using tariffs. He thinks saying it’s a “national emergency” because of trade deficits isn’t the right idea.
What’s next?
Some Senators are trying to pass a law that would let Congress vote on new tariffs. That means President Trump couldn’t add new tariffs unless Congress agrees.
But the White House doesn’t like this idea and might try to stop it.
Why does this matter?
Tariffs can make things we buy more expensive. They can also affect jobs and the economy. It’s important to understand what’s happening because it can impact our families and communities.
Let’s keep an eye on it! 👀
Reference(s):
Trump's abuse of tariffs unsettles 'staunch allies, die-hard fans'
cgtn.com
