Tariffs play a key role in US President Donald Trump’s economic strategy and diplomatic moves. But who truly benefits, and who pays the price? This video offers a quick overview of various tariffs and their impact on prices. What is a tariff? Tariffs are taxes governments impose on imported goods and services, rendering foreign products more expensive than domestically produced alternatives. These customs duties can be used to protect domestic industries from foreign competition, raise government revenue, or address trade imbalances. Tariffs can also be used for diplomatic leverage. Edited by Virginie Mangin
