Tariffs v Taxes

Published: Sep 12, 2024 Duration: 00:01:00 Category: People & Blogs

Trending searches: tariff vs tax
so there's a lot of noise going on right now about tariffs and taxes and taxes and tariffs well a tariff is not literally a tax it is an additional fee imposed on imported goods based upon what they are where they're from Etc they act a lot like attacks but technically they're not attacks for various Nexus issues and whatnot but whatever the case it's added to the core cost of a good to arrive at what's called a landed cost in the United States which then is marked up and finds its way towards the consumer so yes ultimately the consumer would PIR would bear the brunt of the Tariff if they chose to buy the product that's the issue tariffs are meant to control imported goods versus domestically Pro uh produced Goods so as to not let a foreign country gain an economic advantage in another country I.E China buying automobile plants making cheap cars and products and then importing them via the usmca into the United States that's why tariffs are good it's a tool not a tax

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