What’s a Tariff? 🤔
Imagine you trade stickers with your friends. One day, your friend decides to charge you an extra sticker just to swap. That’s kind of like a tariff! A tariff is a tax that a country adds to products it brings in from other countries.
Why Do Countries Use Tariffs? 🏷️
Countries might use tariffs to help their own businesses. By making imported goods more expensive, people might buy more stuff made at home. It’s like supporting local shops! 🏠
What’s a Trade War? ⚔️
Now, imagine if your friend charges you extra stickers, so you decide to charge them extra too. Soon, you’re both charging more and more! When countries keep adding tariffs against each other, it’s called a trade war.
How Do Trade Wars Affect Us? 🌐
Trade wars can make things cost more money. If countries charge more for goods, prices might go up, and families might have to pay more for everyday items. 🛒💸
Why Is It Important to Work Together? 🤝
Just like it’s better to play fair with friends, countries do better when they cooperate. By working together, everyone can get what they need at fair prices! 😊
Stay Curious! 📚
The world of trade is big and fascinating. Next time you hear about tariffs or trade wars, you’ll know what’s going on! Keep exploring and learning new things! 🌟
Reference(s):
'Liberation Day' or trade war ground zero? Decoding Trump's tariffs
cgtn.com
