What does tariffs mean and what are they exactly?

I need an answer from someone that actually knows. Not from google (they don't explain very good)

Question

What does tariffs mean and what are they exactly?

I need an answer from someone that actually knows. Not from google (they don't explain very good)

ptt · Answer

Tariffs are taxes on imported goods. When we get imported goods from Ukraine per se there is a tax on Ukraine to import the goods to us.

SsTDOGRednek · Answer

@ptt wrote:

Tariffs are taxes on imported goods. When we get imported goods from Ukraine per se there is a tax on Ukraine to import the goods to us.

Pretty much what he said... but the other country sets the price if you were to ship it to them. It also depends on what the specific product is.

Shadow · Answer

@ptt wrote:

Tariffs are taxes on imported goods. When we get imported goods from Ukraine per se there is a tax on Ukraine to import the goods to us.

It's not necessarily a tax on Ukraine. Say a US food company bought grain from Ukraine and there is a tariff on the grain. The US food company is the one who pays for the tariff, and they usually pass on that increased price to the product, hence the American consumer of that food item paying more. The reason tariffs are used though is because now grain from American farmers becomes more competitive as grain from Ukraine is more costly to purchase. And obviously Ukraine won't like that its goods are more costly to purchase as this could lead to less exports of their grain, hence why tariffs can be used to punish other countries (such as what U.S. is doing with China) while protecting domestic industries.

SsTDOGRednek · Answer

They are typically charged as a percentage of the product's value and paid by the importer.

@sstdogrednek wrote:

@ptt wrote:

Tariffs are taxes on imported goods. When we get imported goods from Ukraine per se there is a tax on Ukraine to import the goods to us.

Pretty much what he said... but the other country sets the price if you were to ship it to them. It also depends on what the specific product is.

They are typically charged as a percentage of the product's value and paid by the importer.

MAGABACK · Answer

Tariffs are pretty much taxes on other countries. For them to import a good, it's going to cost that country more to export it. What Trump is doing is putting tariffs on countries, and with that, he can pay off our nations (the U.S) dept. I'm not an expert on this, but I believe Trump is tariffing country's, but if they drop tariffs on the U.S, he'll drop it for them. Here is a stat sheet of tariffs per country.

imqwerty · Answer

Tarrifs are like mini-thanos, brings about balance and imbalance in the world

H1m · Answer

@ptt wrote:

Tariffs are taxes on imported goods. When we get imported goods from Ukraine per se there is a tax on Ukraine to import the goods to us.

well, thats dumb.

H1m · Answer

@shadow What made trump make tarrifs?

korbie · Answer

tariffs are basically taxes

MAGABACK · Answer

@korbie wrote:

tariffs are basically taxes

on other countries. not u.s citizens

korbie · Answer

yea

SsTDOGRednek · Answer

Yeah! WHAT HE/SHE SAID!

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