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Tariffs explainer: what are they, how do they work, are they a tax
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Tariffs explainer: what are they, how do they work, are they a tax

1 min read

The last major U.S. tariff law was the Smoot-Hawley Tariff Act of 1930, which established an average tariff rate of 20% on all imports by 1933.

Until recently, tariffs rarely made headlines. Yet today, they play a major role in U.S. economic policy, affecting the prices of everything from groceriesto autosto holiday gifts, as well as the outlook for unemployment, inflation and even recession... [6837 chars]

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Source: Fortune

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