Tariffs have been in the news a lot in 2024. If you’re a business owner or investor, tariffs can impact costs and decisions. Tariffs are taxes on imported goods, making them more expensive. They’re used by governments to protect domestic industries and can raise prices for consumers. Understanding tariffs matters because they affect the cost of products, influence global trade, and play a role in political and economic relationships. Overall, tariffs shape economies and international relations, so it’s important to know how they work. This article from EDC will walk you through it. https://www.edc.ca/en/article/how-tariffs-work-for-business.html
