Okay, so tariffs. You’ve probably heard the word thrown around on the news or in class, but what even are they? Basically, a tariff is a tax that a government puts on stuff that comes from other countries. So like, if we buy shoes from another country, the government might say, “Hey! You gotta pay extra money to bring those in.” That extra money is the tariff.
First, tariffs can make imported goods more expensive. That sounds kinda bad for people who like cheap stuff (so, like, everyone). If those shoes from another country cost more because of the tariff, then stores might charge us more, and that means we have to spend more money. Not fun.
But on the flip side, tariffs can help local businesses. If it’s too expensive to buy stuff from other countries, people might start buying more American-made products instead. That could mean more jobs and more business for local companies.
