Tariffs 101: What they are, who pays them, and why they matter now

By: Kent Jones, Babson College, The Conversation

Outlets: The Conversation

Published: December 11, 2025

Words: 1,289

Last Updated: 1 month ago

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By Kent Jones, Babson College

The U.S. Supreme Court is currently reviewing a case to determine whether President Donald Trump’s global tariffs are legal.

Until recently, tariffs rarely made headlines. Yet today, they play a major role in U.S. economic policy, affecting the prices of everything from groceries to autos to holiday gifts, as well as the outlook for unemployment, inflation and even recession.

I’m an economist who studies trade policy, …

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