Hey there! Have you ever wondered why the price of some things at the store goes up? 🤔 Well, it might be because of something called tariffs!
Recently, President Trump decided to raise tariffs on many things that the United States buys from other countries, like steel and aluminum. A tariff is like a tax that makes imported goods more expensive.
Experts say that these new tariffs could make things cost more for families in the U.S. In fact, it might cost the average family over $1,200 extra per year! 😲 That’s a lot of money that could have been spent on games, movies, or saving for college.
Even though President Trump promised to lower taxes when he became president, these tariffs might mean that families have to pay more overall. This is because the higher prices can add up when people buy everyday items.
Some studies predict that these tariffs could also slow down the U.S. economy and cause prices to rise even more. 📈
It’s important to understand how decisions like these can affect us and our families. Next time you’re out shopping, you might notice some prices have changed, and now you know one of the reasons why!
What do you think about these tariffs? Have you noticed any changes? Share your thoughts! 💬
Reference(s):
Trump's tariff tactics to stoke inflation, increase tax burden
cgtn.com
