A tariff is nothing more than a sales tax

Lately the government has been going online bragging about all the extra tariffs are bringing in. Incredibly, some consumers are cheering them on. So I thought what I would do today is explain the basics of tariffs and how they work, so these consumers will have a better understanding of where tariff money comes from. Let’s say you have an American company that wants to spend $100,000 on T-shirts and sell them for $10 apiece, earning itself a tidy profit. It searches the world over for a T-shirt manufacturer and finally locates one in China. The American company sends $100,000... READ MORE