Hey there! Have you ever heard of tariffs? They’re like extra taxes that countries put on goods from other places. Recently, U.S. Senator Ted Cruz shared some big concerns about them!
Ted Cruz, a senator from Texas, says that if countries around the world start adding more tariffs in response to the ones the U.S. has put in place, it could be really bad for America. Imagine if everything got more expensive all of a sudden—that’s what could happen!
He mentioned that companies like GM, Ford, and Chrysler (some of the biggest car makers in the U.S.) might have to raise their car prices by up to $4,500! 😱 That’s a lot of money! And guess what? It might be easier for foreign car companies to sell cars because they might not have as many extra costs.
Senator Cruz is worried that all these tariffs could even lead to a recession, which is when the economy isn’t doing well. That could be tough for a lot of people.
Some other politicians are thinking about making laws to have more say over these tariffs. They want to make sure big decisions like this don’t hurt people.
What do you think about tariffs and how they affect us? It’s pretty interesting how decisions made by leaders can impact our everyday lives!
Reference(s):
Ted Cruz warns of major risks for U.S. economy due to Trump's tariffs
cgtn.com
