Imported Products

What Is A Tariff And Who Pays It?

What Is A Tariff And Who Pays It?

A tariff is a tax on imported goods […] it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country. Thus, if the US imposes a tariff on Chinese televisions, the duty is paid to the US Customs and Border Protection Service at the border by a US broker representing a US importer.

Trump's Trade And Immigration Policies Could Wipe Out Tax Cut Benefits

Trump's Trade And Immigration Policies Could Wipe Out Tax Cut Benefits

President Trump and his allies in Congress promised that the Tax Cuts and Jobs Act (TCJA) would supercharge the US economy, […]. But the negative economic effects of Trump’s highly restrictive trade and immigration policies threaten to overwhelm any benefit of the tax cuts.