Hey there! 👋 Did you know that a famous Harvard professor thinks that US tariffs are hurting the economy? 🤔
Gregory Mankiw, who teaches economics at Harvard University, said that US tariffs are like making a big economic mistake. But what are tariffs? They’re taxes that a country adds to goods coming from other countries, making them more expensive. 🛍️💰
Mankiw explained that when businesses face uncertainty, they often pause their big plans. Imagine you’re unsure if a new game is coming out—you might wait before buying the old one, right? That’s what companies do when they’re not sure about the future. 🎮⏳
By adding tariffs, it creates confusion. Businesses don’t know how much things will cost or if people will buy them. This can slow down the economy because companies might not invest or hire new people. 🚫💼
Understanding tariffs helps us see how decisions can affect everyone, including us! 🌍
Reference(s):
Harvard professor: US tariffs are large-scale economic malpractice
cgtn.com
