> Retaliatory tariffs delayed by European Union on US goods
Retaliatory tariffs delayed by European Union on US goods
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They were planned after the US imposed a 25% tariff on steel and aluminum imports.
Trump is a proponent of tariffs, insisting that they are paid for by foreign countries. In fact, it is importers — American companies — that pay tariffs, and the money goes to the U.S. Treasury. Those companies typically pass their higher costs on to their customers in the form of higher prices. That’s why economists say consumers usually end up footing the bill for tariffs.
MORE: https://www.wthr.com/article/news/nation-world/what-are-tariffs/507-0b8e6e46-18d2-4795-8ad8-f13239df9c0b