this post was submitted on 18 Oct 2024
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Explain Like I'm Five

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ELI5 how tariffs work. Are they not just like taxes one country puts on another? If so why do people especially republicans keep with Trump on imposing? Would it not hurt the US? (self.explainlikeimfive)
submitted 3 weeks ago by Don_Dickle to c/explainlikeimfive
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[โ€“] [email protected] 2 points 3 weeks ago (1 children)

Not at all. It's necessary to protect your own industry.

But mostly the tariffs are there to protect the capitalist class. When globalism hurts workers and offshores our jobs our politicians do nothing, but when profits are threatened they act swiftly.

[โ€“] [email protected] 4 points 3 weeks ago

No. Mostly they're put in place to protect the domestic industry from being run out of business from cheap exports.