China Tariffs

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Have you ever been laid off due to your company relocating to China? Are you fed up with the United States losing jobs and large companies to China? Would you like to see more money and products being produced in the United States? The United States trade deficit with China hit all time highs. It's time to fix these problems, it's time to bring wealth and jobs back into the United States. There are many proposals introduced throughout our nation to solve theses issues, but I believe only one will work. Implementing tariffs on China is economically smart, it would help bring more money in to the United States, and help create more jobs.
A tariff in basic terms, is essentially a tax that a nation will put on its imports coming from a certain nation.Tariffs are used by governments to generate revenue or to protect domestic industries from competition. Countries charge different tariffs rates depending on the industry they are trying to protect. Here is an example on how a tariffs works, Company XYZ produces pencils in Japan and exports the pencils, which costs $5 per pencil, to the United States. A 20% tariff would require Company XYZ to pay the U.S. government $1 to export the pencil into the United States. With this tax, the company XYZ has to pay more just to sell their pencil in the United States than their own country. …show more content…

For example the United states collects this revenue to support all the ecomicallal functions of the country. Creating more revenue from tariffs is definitely a benefit for such a country. As of 2008, customs and import duties account for approximately 2 percent of government revenue. However, the small percentage brought in by import tariffs equal a hefty 29.2 billion dollars. Imagine if you were to implement a larger tariff you would see the revenue increase significantly. With more revenue you can help decrease the United States debt which would help strengthen the U.S.

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