Apr 10, 2025
Sumaya Rathour
How Do Tariffs Affect Consumers? Explained
Tariffs are taxes on imported goods that affect the price of products.
Tariffs increase costs, hidden in product prices from global value chains.
Consumers face higher prices and reduced product options due to tariffs
Tariffs raise the overall cost of living, affecting wages and prices.
1. Tariffs are discussed as geopolitical tools, with uncertain effects on economies.
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