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Tariffs Impact the Economy
Economic growth expert Matthew Rooney explains how tariffs impact the economy and consumer goods prices.
"Tariffs are bad, first and foremost, because they are just a tax. They add to the cost of things. A company that has to pay a tariff on an input simply raises the cost of what they are producing. In most cases, they are able to pass that cost to the consumer. In some cases, they have to bare that cost themselves or split it with the consumer. Bottom line: the cost of doing business increases and the profitability decreases." -Matthew Rooney