Hey there! Have you ever wondered why the prices of some things go up or down? Well, one reason might be something called a tariff. That’s a special tax countries put on products they bring in from other countries.
Right now, Canada and the United States are in a bit of a sticky situation. The U.S. is thinking about adding a 25% tariff on goods from Canada by March 4th. 😯 That’s like making Canadian products more expensive in the U.S.
If the U.S. does this, Canada might do the same thing back! That means they could add tariffs on products they get from the U.S. This back-and-forth could make lots of things pricier, like cars, electronics, and even some of your favorite snacks.
Why does this matter? Well, families and businesses might have to pay more for the things they need and want. Imagine saving up for a new game or bike, only to find out it costs more now! 🎮🚲
At a recent RV show near Toronto, people are already worried. RVs (those cool homes on wheels) might become more expensive to make and buy because of these tariffs.
Everyone is hoping they can work things out. Fingers crossed that both countries find a solution soon! 🤞 Until then, now you know a bit more about tariffs and how they can affect the things you use every day.
Reference(s):
cgtn.com
