I see a lot of misleading information on this sub, then people jumping on board without the knowledge needed to realize that they are being mislead. So I have decided to try and pass along unbiased knowledge to hopefully alow an informed discussion.

What Is a Tariff?

A tariff, also known as customs duty, is a tax levied on a country's imported goods at the border. The terms 'tariffs', 'custom' and 'duty' can be used interchangeably. It is charged to an importer( a company) that wishes to bring goods into the US. (Can be imposed by any country on another)

Why Are Tariffs Imposed?

Tariffs mean a way of generating income for the government. Additionally, it also serves multiple other US interests, such as promoting items made in the United States and local goods and services by making them more affordable and increasing jobs associated with that production.

It is seen as a protectionist barrier by the government to make the imported products less desirable and more expensive compared to the goods made in the United States. Additionally, tariffs are a large source of income for the government.

How Do Tariffs Work?

Tariffs work by increasing the prices of imported goods and reducing the competition of other countries where production costs, and labor is less expensive and environmental protection is much less stringent. Tariffs have the purpose of making comparatively cheaper US products more attractive to consumers at affordable prices.

There is more than 1 type of Tariffs!

There are four types of tariffs. – specific tariffs, compound tariffs, ad valorem (according to the value), and tariff-rate quota. Here is a brief description of these types:

Specific tariffs: A specific tariff is levied on a product or company. As an example this could be used to block the importing of any product from John Deere or just a specific tractor that they manufacture.

Compound tariffs: A compound tariff depends on the imported product's unit and value. For example, if the tariff imposed on imported apples. Apple from the other country may cost 10 cents each with a set tariff of 20 cents. So the tax would be 0.20 (10%×cost) this would make the tax 0.21 cents. (The apples are now 31 cents so the apples from the United states that cost 30 cents are now abe to compete in price)

Ad valorem: (according to value"). this type of tariff is based on the import value of the product. This is calculated as a percentage rather than a Dollar amount. For example, Japan levies a 15% tariff on all automobiles manufactured in the United States and shipped to Japan.

Tariff-rate quota: A tariff-rate quota combines two trade policies - tariffs and quotas. It levies a specific tariff rate on imported goods up to a specific amount. For example, a country can levy a 10% tariff on 5000 bags but when the number exceeds 5000, the tariff rate will be increased to 20%.

Blanket tariffs (untargeted or sweeping) vs targeted tariffs!

A blanket tariff, this would be a tax applies accross the scope of all products in general or all products from a popular country. This tax is used to adjust for a currency difference between 2 countries and also used to create trade sanctions against another country. This while good for income and domestic compilation, can also causes problems as it applies to goods that are not manufactured manufactured here in the United States (this will lead to higher prices of goods that can not be purchased from a US manufacturer or supplier)

Current tariffs imposed by the US. https://www.trade.gov/import-tariffs-fees-overview-and-resources

Targeted Tariffs, are focused on one particular item, company, or industry in order to force change in companies buisness decisions. Such as if it would be more profitable to build there products inside the United states to avoid the extra cost involved in shipping the product to the United States or if it would be more profitable to move somewhere that because of the rate of exchange materials and labor are much cheaper and so they make much more profit selling the same item to the same people (sometimes at a lower price, so they sell more than then the US competition)

Be warned most of the vocal "economists" out there have an extreem vested intrest in free-trade. These people do not care about the people at the bottom or how it affects America or Americans. They only only care about how it affects their money and or employment!

"Free-trade will kill America's economy, jobs and businesses" - we cannot have our cake and eat it too!

It is not posable to have higher pay, cheaper goods, and lower taxes. The money has to come from somewhere!