I have 0 maths or economy skills, so I do need it explained like I’m 5. They’re in the news a lot atm but I just don’t understand them

  • Cupcake@lemmy.blahaj.zoneEnglish
    31·
    11 days ago

    Imagine if sales tax were currently at zero percent and some guy said you know what let’s start taxing 36% on just about everything. That’s the reality we’re about to be in. That $500 Nintendo switch 2? Now it’s $680. It will be for pretty much all goods coming from foreign countries and we import A LOT of stuff.

    Tariff = Tax on imported goods.