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On this podcast, I’ll interview Dr. Jeff Roach, our Director of Research on what tariffs mean to you. Most people (especially consumers) agree that free trade or fair trade is a good thing. However, in a recent headline, we see that the U.S. is to pay farmers for tariff losses. The Trump administration pledged to pay farmers $4.7 billion to offset losses from trade disputes with foreign buyers of U.S. agriculture products.
A tariff is a tax or duty to be paid on a particular class of imports or exports. The US and other foreign countries continue to increase tariffs charged to each other with their one-upmanship tactics. Recent US tariffs have targeted Chinese chemicals, semiconductors, plastics, motorcycles, and railway cars. The Chinese have since responded with counterattacks, issuing their own set of tariffs on certain U.S. goods. So what does this mean to you? Find out on our latest podcast.