Hey there! Have you ever heard of tariffs? They’re like extra taxes that countries put on products from other countries. 🛠️
Back in 2018, President Donald Trump decided to increase tariffs on steel and aluminum coming into the United States. He raised the tariffs to 25% on steel and 10% on aluminum. This means that companies importing these metals had to pay more money. 💰
But why did he do that? 🤔 Well, the idea was to protect American steel and aluminum industries. By making imported metals more expensive, it encouraged people to buy from U.S. companies instead. This was meant to save jobs and help the American economy grow. 📈
Some people thought this was a great idea because it could boost local businesses. Others were worried it might make things like cars, bikes, and even soda cans more expensive since they use steel and aluminum. 🚗🚲🥤
Trade decisions like these can have big effects on everyday life, even if we don’t always notice them. It’s interesting to see how countries work together (or sometimes compete) in the global market! 🌍
What do you think about tariffs? Do you think they help or hurt people? 🤷
Reference(s):
cgtn.com
