The Impact of Tariffs on the Economy and You In this latest TradeWinds webinar, Miller Hoffman, head of our Client Experience Team, breaks down one of the most talked-about economic topics: tariffs.
Key Takeaways:
- What Are Tariffs? Tariffs are taxes on imported goods, paid by U.S. businesses, not foreign companies. This can increase costs and impact pricing.
- Pros & Cons of Tariffs: While tariffs aim to protect domestic industries and create government revenue, they can also lead to higher prices (inflation), trade retaliation, and market uncertainty.
- Political & Economic Impact: The Trump administration is leveraging tariffs as a tool for negotiation, particularly with major trade partners like China, Mexico, and Canada.
- How It Affects You: Expect higher costs on imported goods, potential employment shifts, and market fluctuations as companies adjust to new trade policies.
