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Tariffs: The Tax You Didn’t Know You’re Paying
Many assume tariffs make foreign countries pay—but in reality, the cost falls on U.S. businesses and consumers. Dr. Elaine Frey from the Division of Politics, Administration, and Justice breaks down how tariffs on goods like steel or corn can lead to rising prices throughout the economy.
While they’re often used as political tools, economists caution against their long-term effects—pointing to historical examples like the Great Depression for context.
The skinny
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