US Tariffs refer to taxes or duties imposed by the United States government on imported goods and services. These tariffs are used as a tool of trade policy to regulate international trade, protect domestic industries, and generate revenue for the government. They can vary in rate and application, depending on the type of product or the country from which it is imported. Tariffs can influence market prices, affect the competitiveness of domestic versus foreign goods, and serve as a means to address trade imbalances. They can also play a role in diplomatic negotiations and trade agreements.
Trump's 25% tariff on Canadian and Mexican products marks a significant shift in North American trade policy. Retaliatory tariffs from Mexico and Canada indicate potential for escalating trade tensions. The…