Lately the news has been full of headlines about the U.S. potentially imposing tariffs on goods from countries like China. These articles are typically followed by stories saying that other nations could place their own tariffs on American goods, thus potentially setting the stage for a “trade war.” This video explains exactly what happens during a trade war and how they can affect economies around the world.
- What are some reasons why a country would want to impose a tariff on another nation’s goods?
- Who typically gets hurt the most by trade wars?