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| − | [[File:Donald Trump official presidential photo.jpg|thumb|250px|right|"Tariff is the most beautiful word in the dictionary." - [[Donald Trump]]<ref>[https://www.theguardian.com/news/audio/2024/dec/16/the-most-beautiful-word-in-the-dictionary-donald-trumps-tariff-plan-podcast ‘The most beautiful word in the dictionary’: Donald Trump’s tariff plan – podcast]</ref>]]
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| | A '''tariff''' is a [[tax]] or custom duty on an imported [[good]]. It can take one of two forms: (1) a tax per unit, known as a specific tariff, or (2) a tax based on the value of the good, known as an ''[[Ad valorem tax|ad valorem]]'' tariff. | | A '''tariff''' is a [[tax]] or custom duty on an imported [[good]]. It can take one of two forms: (1) a tax per unit, known as a specific tariff, or (2) a tax based on the value of the good, known as an ''[[Ad valorem tax|ad valorem]]'' tariff. |
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| − | U.S. President [[Donald Trump]] supports tariffs as a way of resorting [[America]]n jobs lost due to massive trade deficits. Prior to the [[income tax]], tariffs were used for most of American history to build economic strength. Critics of President [[Trump]]'s tariff proposals are often beneficiaries of products that incorporate items such as low-priced steel imports. Supporters of the President's tariffs believe protective tariffs are a way to protect U.S. producers and American workers.<ref>[https://www.natlawreview.com/article/two-things-missing-debates-us-china-fights Two Things Missing From Debates On US-China Fights]</ref> Trump has noted that the most successful vehicles in the auto industry are protected by high tariffs.<ref>Carney, John (November 28, 2018). [https://www.breitbart.com/economy/2018/11/28/chickentaxtrucks/ Trump Points Out the ‘Chicken Tax’ Has Protected America’s Best Vehicles for Decades]. ''Breitbart News''. Retrieved November 28, 2018.</ref> Trump's ongoing "trade war" with the dictatorial [[People's Republic of China]] (his placement of tariffs on Chinese goods, which exist mostly as a result of intellectual property theft from the West) have frustrated liberals and even [[mainstream conservative]]s, but even classical liberal journalist Tim Pool has stated that his "liberal friends in Hong Kong support the tariffs." | + | Prior to the [[income tax]], tariffs were the principal way for most of American history to support the [[federal]] government. |
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| | + | ==Trump tariffs== |
| | + | [[File:Donald Trump official presidential photo.jpg|thumb|250px|right|"Tariff is the most beautiful word in the dictionary." - [[Donald Trump]]<ref>[https://www.theguardian.com/news/audio/2024/dec/16/the-most-beautiful-word-in-the-dictionary-donald-trumps-tariff-plan-podcast ‘The most beautiful word in the dictionary’: Donald Trump’s tariff plan – podcast]</ref>]] |
| | + | U.S. President [[Donald Trump]] supports tariffs as a way of resorting [[America]]n jobs lost due to massive trade deficits. Critics of President [[Trump]]'s tariff proposals are often beneficiaries of products that incorporate items such as low-priced steel imports. Supporters of the President's tariffs believe protective tariffs are a way to protect U.S. producers and American workers.<ref>[https://www.natlawreview.com/article/two-things-missing-debates-us-china-fights Two Things Missing From Debates On US-China Fights]</ref> Trump has noted that the most successful vehicles in the auto industry are protected by high tariffs.<ref>Carney, John (November 28, 2018). [https://www.breitbart.com/economy/2018/11/28/chickentaxtrucks/ Trump Points Out the ‘Chicken Tax’ Has Protected America’s Best Vehicles for Decades]. ''Breitbart News''. Retrieved November 28, 2018.</ref> Trump's ongoing "trade war" with the [[People's Republic of China]] (his placement of tariffs on Chinese goods, which exist mostly as a result of intellectual property theft from [[the West]]) have frustrated liberals and even [[mainstream conservative]]s, but even '[[classical liberal |
| | + | ]] journalist Tim Pool has stated that his "liberal friends in Hong Kong support the tariffs." |
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| − | In [[telecommunications]], a tariff consists of documents filed by a [[common carrier]] describing its services and the payments to be charged for such services. | + | In [[telecommunications]], a tariff consists of documents filed by a [[common carrier]] describing its services and the payments to be charged for such services.{{fact}} |
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| | ==Tariffs in history== | | ==Tariffs in history== |