© MAGNIFIER/stock.adobe.com
international trade, tariffs, protectionism, global supply chains, consumer and producer surplus
In November 2024, Donald Trump was re-elected president of the USA. Among his election campaign promises was to provide more protection for American manufacturing through the use of tariffs on imports. Within the first 100 days of his presidency, President Trump had implemented wide-ranging tariffs on imports, including a tariff of up to 145% on imports from China, and a 25% tariff on car parts coming into the USA. So, who benefits from tariffs, and what is the overall impact?
Your organisation does not have access to this article.
Sign up today to give your students the edge they need to achieve their best grades with subject expertise
Subscribe