What Is a Trade War?
It is a common misperception that foreigners make the tariffTariffs are taxes imposed by one country on goods imported from another country. Tariffs are trade barriers that raise prices, reduce available quantities of goods and services for US businesses and consumers, and create an economic burden on foreign exporters. payments.
Trade might sound like something far removed from everyday life, reserved for diplomats and negotiators to discuss and determine, but in reality, trade is something we all do every day. When you go to work, you trade your time and skills for a paycheck. When you stop by the store, you trade your paycheck for groceries to feed your family. Whether it’s with your neighbor down the street or a business owner halfway around the world, trade is at the heart of everyday life.
And when governments restrict it — through tariffs and retaliation — no one truly wins.
This is a preview of our full op-ed originally published in Common Good Magazine.
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