According to one recent Ipsos poll, about less than half (45%) of Americans understand what a tariff is.* There has been a lot of talk about implementing new tariffs, and it does beg the question: what are they? What will be their immediate effect? Why is this happening at all?
Firstly to start: a tariff is a tax on imported goods. What this does in affect, is artificially inflate the price of foreign goods in order to
