Hey there! 😊 Have you ever heard about tariffs? Don’t worry if you haven’t; let’s break it down together!
What are tariffs?
Tariffs are like taxes that countries put on products they buy from other countries. Imagine you trade stickers with a friend, but your teacher says you have to give her one sticker every time you get one from your friend. That extra sticker is like a tariff.
What’s happening now?
The United States has decided to double the tariffs on steel and aluminum that it brings in from other countries. That means they’re increasing the extra cost on these metals. 📈
Why is this important?
Steel and aluminum are used to make lots of things, like cars, bicycles, and even soda cans! When the tariffs go up, it can make these products more expensive to make and buy.
What’s next?
Other countries might respond by changing how they trade with the U.S. It’s like when someone changes the rules of a game—they have to figure out how to keep playing fairly.
The situation is still developing, so we’ll have to wait and see what happens. Stay tuned for more updates! 📰
Reference(s):
cgtn.com
