Tariffs are additional taxes on imported goods that drive up the prices of foreign goods.
According to Trump, America has enriched foreign industry at the expense of the American the industry for many decades and now it ́s time to place America at first in every possible situation.
The “America First” policy has given a lot of companies extra cost while they produced the same amount of goods as they did before.
This extra cost endangers their competitiveness. The companies are now forced to pay tariffs, but instead of paying it themselves, they pass it on to the Trump has been in a trade war with China, and that has resulted in many people being left jobless, and fewer jobs being created. Trump has planned tariffs on the majority of Chinese goods. He goes consumers. ahead to tax another $200 billions of Chinese goods.
Which had led to the trade war between Trump and China. If they continue to reciprocate with extra tariffs on each other’s products, it is going to be more than just a trade war and the consequences will influence the majority of the world.
Even though the unemployment rate is very low right now, it would have been lower if it was not for the trade war. Already at the beginning of 2018 Trump started by putting tariffs on half of the imports from China.
Trump's tariffs on Chinese imports go far beyond steel and aluminum and affect a wide variety of basic products. Most of the basic goods are imported. Those who are going to feel the impact of Trump's tariff-policy the most, are the poor households, which will face enormous pressure.
Companies need to raise their prices on basic goods to keep making a profit. That is not a problem for higher earners who can absorb price hikes, but it is going to influence the “working-class” Americans, and maybe create an even higher inequality with the In conclusion, Donald Trump’s tariff war hurts the economy more than it benefits.
His policy “America First” is that some American businesses are forced to raise prices on their products which will influence their rate of turnover. The purpose of these tariffs is to boost the American economy
5 Video 1 – This is the cost of President Trump ́s ‘America first’ policy.