Question

How might the issue of u.s- imposed tariffs impact u.s relations with britain

Answer 1

Theoretically, tariffs can cause inflation. Tariffs increase the price of goods and services in domestic markets by applying a tax on imported goods that is paid by the domestic importer. To cover the increased costs, the domestic importer then charges higher prices for the goods and services.

Answer 2

Answer: tariffs restrict imported goods by raising the prices of the good making it so the good are not wanted by consumers.

Explanation: add a higher tariff on imported goods loses customers. Therefore we would not need the imported goods from Britain if no one is buying it.