04-03-2025 16:32 via krqe.com

What are tariffs and how do they work?

WASHINGTON (AP) — Tariffs are in the news at the moment. Here's what they are and what you need to know about them:Tariffs are a tax on importsTariffs are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country.U.S. tariff rates vary: They are generally 2.5% on passenger cars, for instance, and 6% on golf shoes. Tariffs can be lower fo
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