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I have 0 maths or economy skills, so I do need it explained like I'm 5. They're in the news a lot atm but I just don't understand them

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[-] Cupcake 2 points 1 month ago* (last edited 1 month ago)

Imagine if sales tax were currently at zero percent and some guy said you know what let's start taxing 36% on just about everything. That's the reality we're about to be in. That $500 Nintendo switch 2? Now it's $680. It will be for pretty much all goods coming from foreign countries and we import A LOT of stuff.

Tariff = Tax on imported goods.

[-] Jivebunny@lemmy.world 2 points 1 month ago* (last edited 1 month ago)

Little late, but if you have dyslexia, this guy explains it in audio: https://youtu.be/sGuWRZE1XSc

Lot of cussing, but he's explaining it well a minute in

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[-] Redacted@lemmy.zip 1 points 1 month ago

If someone from somewhere else wants to sell stuff here, a tariff means the person buying that thing has to pay more. The person buying that thing is usually a company that wants to turn that stuff into other stuff like a computer for example. This raised cost is then passed on to the people that buy it.

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this post was submitted on 06 Apr 2025
63 points (100.0% liked)

Explain Like I'm Five

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