tariffs are the second largest source of revenue next to the IRS.
What are Import Taxes?
Import tax (also known as an import duty or import tariff) is collected by US Customs on every import that comes into the US.
Import taxes are a source of income for the US Government and are a way to restrict or facilitate the import of certain commodities.
Nobody is debating that.
The tariffs are paid by importers; Americans.
Mexico pays nothing.
tariffs are the second largest source of revenue next to the IRS.
What are Import Taxes?
Import tax (also known as an import duty or import tariff) is collected by US Customs on every import that comes into the US.
Import taxes are a source of income for the US Government and are a way to restrict or facilitate the import of certain commodities.
Nobody is debating that.
The tariffs are paid by importers; Americans.
Mexico pays nothing.
tariffs are the second largest source of revenue next to the IRS.
What are Import Taxes?
Import tax (also known as an import duty or import tariff) is collected by US Customs on every import that comes into the US.
Import taxes are a source of income for the US Government and are a way to restrict or facilitate the import of certain commodities.
Nobody is debating that.
The tariffs are paid by importers; Americans.
Mexico pays nothing.
Exports are the goods and services produced in one country and purchased by residents of another country.
As an example, the United States imported $1.68 trillion in goods between January and August 2018. During that same period, it exported $1.12 trillion in goods. This created a deficit of $565.6 billion.
Tariffs go to the government that impose them. For example; if the USA imposed a tariff on Iphones made and brought to the USA from
China, the
US government gets the money, which is usually a percentage of the product price, or some variation of that strategy.