How tariffs work A tariff is a customs duty, or tax, levied on goods and services that are imported or exported. In the past, tariffs were used by countries primarily as a way to bring in revenue for the government.

Tariffs are often discussed in big, abstract terms—trade wars, economic strategy, global power struggles. But for ginseng farmers in Wisconsin, their effects are painfully personal. In this episode, Why It Matters dives into how tariffs work and how they ...

President Trump has floated a sweeping promise: tariffs on foreign goods so large and lucrative that Americans could stop paying federal income tax. The idea taps into deep frustration with the tax code and anger over trade, but it also raises a basic ...

The International Monetary Fund (IMF) says that although "the tariff shock is smaller than originally announced", it is a key reason why it now expects the rate of global economic growth to slow to 3.1% in 2026. A year ago, it predicted a 3.3% expansion this year.

How will tariffs impact your holiday shopping? Rising prices have been top of mind for consumers for several years, especially coming off the high inflation after the pandemic. Now, rising global tensions in 2025, including new tariffs, are starting to ...

Calls grow for the EU to deploy its ultimate trade bazooka as Trump threatens fresh tariffs to force the sale of Greenland. The anti-coercion instrument would shut off access to the European single market,

Ahead of the Davos forum in Switzerland, Trump shares a message apparently from the French president that says: "I do not understand what you are doing on Greenland."