US Tariffs refer to taxes or duties imposed by the United States government on imported goods and services. Tariffs are used as a tool to regulate international trade, protect domestic industries from foreign competition, and generate revenue for the government. They can vary depending on the type of goods and the countries of origin. Tariffs can be specific (a fixed fee per unit) or ad valorem (a percentage of the value of the goods). The imposition of tariffs can impact trade relationships, influencing prices and availability of goods in the domestic market. Tariffs are often a point of contention in trade negotiations and can lead to trade disputes between countries.
A global trade conflict intensifies as the U.S. implements $918 billion in tariffs, triggering retaliation from Canada, Mexico, and China. The U.S. tariffs include a 25% duty on imports from…