Tariffs Explained

Watch Sprout members interview Dr. Tyler Schipper, a professor of economics at the University of St. Thomas, about what tariffs are and how they affect the economy. He answered the following questions:

1. What are tariffs and who pays them?

2. How do tariffs affect the economy and the prices of goods?

3. Why would a country choose to implement tariffs?

4. What effect would President-elect Donald Trump’s proposed tariffs have on the U.S.?

5. Are there any misconceptions about tariffs that should be addressed?