Who do you think will ultimately pay these tariffs? Explain your answer. Describe a good or service you use that has been impacted by trade or globalization
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Tariffs are imposed by the U.S. Government on imports of goods. At the time of import the producers or importer are the ones levied to pay these tariffs. Ultimately, the cost of these tariffs is really paid by the consumers. I say that because those consumers who are attracted to imported goods will have to forced to pay increased prices for them due to the tariffs.
Since such trade is international, consumer base is country specific and separated (heterogeneous) suppliers do not face any burden of tariff as they can sell in any other country. only consumers suffer.
Mobile phones and other electronic products have been impacted by trade or globalization. They have become cheaper and diversified due to enhanced competition. China dominates in this sector.
Who do you think will ultimately pay these tariffs? Explain your answer. Describe a good or...
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