What tariffs levied between China and the U.S. mean for American consumers

Tariffs are essentially taxes charged on goods imported from other countries. For instance, a product worth $10 would incur an additional $1 charge. These tariffs are paid to the U.S. government, and businesses often pass the extra cost onto American consumers. This new tariff takes effect today, impacting a wide range of products, including phones, electric batteries, and computers—essentially everything made in China.