Hey there! 👋 Have you ever swapped toys or trading cards with a friend? Imagine if one day, someone said, “From now on, I’ll only trade if I get twice as much as you get!” Sounds unfair, right?
Well, recently, the United States announced that it would charge extra money, called tariffs, on steel and aluminum coming into the country. A tariff is like a tax that makes imported goods more expensive. President Donald Trump also wants to make other countries pay the same amount of tariffs that they charge the U.S.
This idea is called “reciprocal tariffs”, and it’s got people around the world talking! 🌎
An Indian expert named K. J. Joseph says that these new tariffs might hurt countries like India, but they could actually end up hurting the U.S. even more. How? 🤔
First, making imported goods more expensive can cause prices to go up inside the U.S. This is called inflation. When things cost more, people might buy less, and businesses might not grow as much.
Second, these tariffs could upset the rules that countries use to trade fairly. If countries start charging each other more and more, it could lead to a trade war, where everyone loses out.
That’s why many people are worried about these changes. They think it could cause big problems and make things uncertain for everyone.
What do you think about this? How would you feel if trading with friends became complicated? Let’s hope countries can find a way to trade that’s fair for all! 🤝
Reference(s):
Indian scholar: 'Reciprocal tariffs' policy to backfire on U.S.
cgtn.com
