The U.S. might soon impose tariffs on certain imports.
Provided by Greg Ferguson
What if America taxes imported aluminum and steel? If it does, will other countries impose taxes in response, and what might that mean for the U.S. economy?
Conversations about tariffs and trade wars have been prevalent in the news stream lately. If a trade war does begin in 2018, it is worth considering the potential implications. In the scenario that could unfold, excise taxes would be placed on imported goods or materials sold to consumers or used by industries in America. These taxes would encourage retailers and manufacturers to buy such goods and materials from U.S. sources.1,2