Tariffs and the effects on the Economy
- Richard Hays
- Oct 5
- 2 min read
Updated: Oct 6
Streator, Illinois WallMart shopping for the best deals due to traiffs.
Tariffs have become an important topic in todays market. With so many conversations about the topic. It's hard to tell what is fictional and what is fact base. So I thought I take a look for my self to see what products are being effected by tariffs.
Electronics are one of the biggest tariffs that a customers will see while shopping. This just doesn't effect one store where you may buy your goods. The consumer has to be smart while shopping for selected brands in todays economy. They may even have to resort to a generic brands to fulfill their demands or wait for sales on products.
All imported goods from certain countries are feeling the effects. It is easy to overlook price increases while shopping. When a customer see a price increase they may wait for a sale on a product that never comes. Or they wait for the product to be lowered after a certain time on the market.But that is exactly what tariffs are and how they are controlled. This makes the consumer impulse buy while shopping in a effort to boost the economic sales on products. https://files.taxfoundation.org/20180627113002/Tax-Foundation-FF595-1.pdf
I interviewed a customer while shopping and asked her if she thought tariffs are a big impact while shopping. " No. it's just another political term used to inform the public of price increases. But not to worry much about it because customer will just stop buying certain products and they will lower them. It doesn't make that much of a difference."
Tariffs are not new to customers in the market place. What is new is where does it take us as an economy in the future. Where does the money that is being made from tariffs go and how does it help us as an economy? Will tariffs increase crimes in retail theft? There are a lot of theories and speculation on the topic of tariffs. But as a customer it is best to be informed and educated on the topic to save your self money while shopping for your next product.
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