ieExplains: What are tariffs and how do they work?

Mainstream economists are generally sceptical about tariffs, considering them an inefficient way for governments to raise revenue
ieExplains: What are tariffs and how do they work?

In the US, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country (Noah Berger/AP)

US President Donald Trump’s long-threatened tariffs against Canada and Mexico came into effect on Tuesday.

Imports from Canada and Mexico are now to be taxed at 25%, with Canadian energy products getting tariffed at 10%. In addition, the 10% tariff that Mr Trump placed on Chinese imports in February is doubling to 20%.

Already a subscriber? Sign in

You have reached your article limit.

Take us with you this summer

Annual €130 €65

Best value

Monthly €12€6 / month

More in this section

Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited