Tariffs, taxes on foreign imports, have regained relevance in today's economy, affecting everyone from corporations to small businesses. Unlike large companies that can absorb increased costs, small businesses often struggle. Tariffs raise the final retail prices for consumers, reflecting the additional costs imposed on importers. Notably, Harley-Davidson's recent experiences, bearing a significant tariff cost on motorcycles, illustrate the potential financial burden and challenges associated with navigating international trade amidst changing tariff policies. Understanding this landscape is crucial for consumers and businesses alike.
Tariffs can have far-reaching economic and political consequences, which King George III learned to his detriment 250 years ago. This is even more true in our current economy.
Consumers, including those who rely on small businesses, usually face the burden of tariffs as businesses often pass the extra costs along in the form of higher prices.
Collection
[
|
...
]