Category: Customs Compliance, U.S. Customs, Other Import/Export, Trade Compliance, Tariffs | Comments Off on The Impact of Tariffs: Who Benefits and Who Bears the Cost?
Posted by Kristine Kelleher | February 18, 2025 | Tags: tariffs, trade compliance, export controls, import compliance, export compliance, national security, Customs Regulations, Economic Competitiveness
Tariffs, a tax on imports, have historically been used to support domestic industries and are primarily imposed for two reasons: to protect domestic industries by raising the cost of imported goods, and/or to generate revenue for the government. However, they can often also result in reduced trade, higher prices, and retaliation. What is a tariff?…
