this post was submitted on 06 Apr 2025
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Explain Like I'm Five

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What exactly are tariffs and how do they work? (lazysoci.al)
submitted 1 day ago by CheeseToastie@lazysoci.al to c/explainlikeimfive@lemmy.world
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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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[–] Redacted@lemmy.zip 1 points 1 day 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.