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The truth about rates and how they work
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The truth about rates and how they work

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One element of Donald Trump’s economic plan is to impose drastic tariffs on other countries, notably China. Tariffs are neither good nor bad in themselves. They are a tool that, when used strategically, can address trade imbalances, protect certain domestic industries, or influence other countries to improve their trade, wage, or human rights practices. . But it is American companies that pay the customs duties. And these companies end up passing this “tax” on to the consumer in the form of higher prices. The American consumer therefore ends up paying the bill for customs duties.