Tariff is like a trade war where you increase the taxes on foreign goods which you are importing in order to make it expensive so that local products can get some attension. They say it to save jobs or help local people, but really it just makes things more costly and kinda hard. Like, who wanna pay more for same phone?
Anyways, this kinda thing has been happening for a long time, but it got noisy in 2018 when Trump was president. He said China was making bad deals, so he put a big tax on steel and aluminium, said it was gonna help American workers. China ain’t like that, so they tax U.S. stuff back. That’s when things started getting messy fr.
Then they go back and forth, like school kids fighting. U.S. tax Chinese goods like electronics, then China slap back with soybeans and other stuff. Farmers and normal hivers got hurt bad. Government says they winning, but real people losing hard.
U.S. and China both big trade bosses, so when they fight, rest of world feel it too. Canada, India, EU—all get caught in mess. Prices go boom, supply chain get wild, stuff take forever now. Everything just go outta control.
Sometimes they are acting cool on camera, like Trump and Xi meeting and shaking hands, but then the next day a tweet drops and boom—the market goes wild. Stocks are up one minute, and crash the next. Like fr? Tweets got stock powers now?
In 2020 they try this deal called Phase One. China said they buy more U.S. stuff, U.S. said no new tax for now. But them old taxes still hangin’. So kinda like stickin' a tiny band-aid on a big leak.
Then Biden came in. He ain’t taken off all tariffs, but tried to calm things down a bit. Other countries start making deals too, 'cause they don’t wanna rely too much on the U.S. or China no more. That’s smart, lowkey.
Why does this matter to you? 'Cause you buy stuff—phones, food, clothes. When tariffs go up, prices go up. Wallet feels pain. Jobs get hit, shippin’ slow, and everythin just more stress now.
So what did we learned? This ain’t just about money. It's about flexin’ power too. Nobody won. Lots of hivers got the L. Showed how shaky world trade is.
Tariffs got some ups too, like helping local biz when outside stuff cost more. Gov get more money from taxes, maybe use for good stuff. Jobs might come back too, like in factories or farms.
But downsides are real too. Things get more expensive, fewer choices, other countries get salty and put taxes back. The world argues more. Trade gets messy. In the end, a big headache.
So yeah, whole tariff war? Total mess. Still kinda going. Showed how touchy world trade is. Maybe helped for a little while, but in the long run? Nah. Better if countries sit and talk like grown-ups, not throwing taxes like dodgeballs.
Sources:
- World Trade Organization (https://www.wto.org/)
- BBC News – Trump’s Trade War Timeline (https://www.bbc.com/news/business-44707253)
Note: The image is AI generated,from Chat gpt