Tariffs and Trade
- Money collected is called a duty
- Imports and Exports
- U.S. Customs and Border Protection collect duties
- $33.1 billion was collected by the U.S. in 2018
- U.S. imposes a 11% tariff on shoes
- Tariffs... 1) Raise Money and 2) Protect countries from competition
- An increase in tariffs is paid by you and I
- China placed a 25% tariff on U.S. planes
Time To Take Away The President's Power To Impose Tariffs Stuart Anderson in this March 5, 2018 article explains how Congress has given too much power to all presidents.
The World's Top 10 Largest Economies shares information about this 2019 data.