What is the Impact of Tariffs on the Global Economy?
Tariffs can have wide-reaching effects on the global economy:
Trade Wars: When countries retaliate against each other with tariffs, it can lead to trade wars that disrupt global trade. Inflation: Increased costs of imported goods can contribute to inflation in a domestic economy. Global Supply Chains: Tariffs can disrupt supply chains, leading to inefficiencies and increased costs for multinational corporations.