Tariffs are taxes or duties imposed by a government on
imported goods. They are one of the oldest and most common
instruments of trade policy and are used to control the flow
of foreign goods into a country, protect domestic industries,
and generate revenue for the government. Tariffs can be
specific (a fixed fee per unit of the imported good) or ad
valorem (a percentage of the value of the imported
good).
How Tariffs Work
When a country imposes tariffs, it sets a tax on
imported goods. Importers must pay these taxes when the goods
enter the country, which typically increases the cost of the
imported goods. This cost increase can make imported goods
more expensive for consumers, which can lead to several
potential outcomes:
Reduced Imports: Higher costs
for imported goods can lead to a decrease in the
quantity of goods imported.
Increased Domestic Production:
By making imported goods more expensive, tariffs can
make domestically produced goods more competitive,
potentially boosting local industries.
Higher Consumer Prices: The
increased costs of imported goods can be passed on to
consumers, leading to higher prices for goods and
services.
Consequences of Tariffs
The imposition of tariffs can have a wide range of
consequences, both positive and negative:
Economic Consequences
Consumer Impact: Consumers
often bear the brunt of tariffs through higher prices
for goods and services. This can reduce consumer
purchasing power and overall demand for certain
products.
Business Impact: For businesses
that rely on imported raw materials or components,
tariffs can increase production costs, which may
result in higher prices for end products or reduced
profit margins.
Trade Relations: Tariffs can
strain trade relations between countries, potentially
leading to trade wars where countries retaliate by
imposing their own tariffs.
Government Revenue: Tariffs can
provide a source of revenue for governments, which can
be used to fund public services or reduce the budget
deficits.
Social and Political Consequences
Protectionism: Tariffs are
often used as a tool for protectionism, shielding
domestic industries from foreign competition. While
this can preserve local jobs and industries, it can
also stifle innovation and efficiency.
International Relations:
Tariffs can lead to tensions and conflicts between
trading partners, affecting diplomatic relations and
international cooperation.
Inequality: Tariffs can
disproportionately affect low-income consumers, who
maybe more sensitive to price increases for essential
goods.
Why Governments Participate in Tariffs
Governments impose tariffs for several reasons:
Protecting Domestic Industries:
By making imported goods more expensive, tariffs can
help protect domestic industries from foreign
competition, preserving local jobs and
businesses.
Generating Revenue: Tariffs can
be a significant source of revenue for governments,
especially in countries with limited tax collection
capabilities.
Trade Policy: Governments use
tariffs as part of their trade policy to negotiate
better trade terms with other countries or to
retaliate against unfair trade practices.
National Security: In some
cases, tariffs are imposed to protect industries that
are considered vital to national security, such as
defense and critical infrastructure.
Pros and Cons of Tariffs
Pros
Domestic Industry Protection:
Tariffs can provide a competitive advantage to
domestic industries, helping them grow and maintain
employment.
Government Revenue: Tariffs can
generate significant revenue for governments, which
can be used to fund public services.
Trade Leverage: Tariffs can be
used as leverage in trade negotiations, helping
governments secure better trade deals.
Cons
Higher Consumer Prices: Tariffs
often result in higher prices for consumers, reducing
their purchasing power and overall demand.
Economic Inefficiency: By
shielding domestic industries from competition,
tariffs can lead to inefficiencies and a lack of
innovation.
Trade Wars: Tariffs can provoke
retaliatory measures from other countries, leading to
trade wars that can harm global trade and economic
growth.
Impact on Low-Income Consumers:
Tariffs can disproportionately affect low-income
consumers, who may struggle with higher prices for
essential goods.
Fri, 25 Apr 2025 08:27:00 GMT The impact from tariffs has so far been most immediately felt in financial markets, with stocks erasing nearly a year’s worth of gains amid fears of an economic growth slowdown or outright recession.
Fri, 25 Apr 2025 07:54:00 GMT Tariffs don’t exist in a vacuum. When the U.S. imposes them, other countries may retaliate, disrupting global supply chains and shaking investor confidence. These trade tensions can lead to market ...
Wed, 23 Apr 2025 12:56:12 GMT Everyone is talking about tariffs, and no one quite knows what to make of them, the Federal Reserve's "Beige Book" shows.
Tue, 15 Apr 2025 17:00:00 GMT Outside of work, he can most often be found watching ... once they have a better understanding of the tariffs, if at all. At a White House event on April 2, Trump laid out the new wave of tariffs ...
Tue, 15 Apr 2025 06:28:00 GMT Tariffs are tools that must be used wisely. While they can protect domestic industries and jobs, they may also raise prices, trigger trade wars and slow economic growth. Their impact depends on how ...
Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.
Highlights:
- Secretary-General Travel
- Deputy Secretary-General
- Syria
- Occupied Palestinian Territory
- Sudan
- Democratic Republic of the Congo
- South Sudan
- Haiti
- Nigeria
- Refugee Funding Cuts
- ECOSOC
- International Days
- Briefings – Monday
Secretary-General travel
The Secretary-General arrived today in Rome, where tomorrow, he will attend the funeral of Pope Francis at St. Peter’s Square. He will be back in the office on Monday.
There will be a plenary meeting of the UN General Assembly to pay tribute to the memory of Pope Francis on Tuesday, in the General Assembly Hall at 3 pm. The Secretary-General will speak at that meeting.
And the UN flag will be flown at half-staff on Tuesday, as well.
DEPUTY SECRETARY-GENERAL
The Deputy Secretary-General, Amina Mohammed will travel to Montevideo, Uruguay, later today to chair the annual regional retreat with UN Resident Coordinators from across the Latin America and the Caribbean region. Ms. Mohammed will also meet with senior government officials to strengthen the UN-Uruguay partnership and discuss priority actions to support the Sustainable Development Goals. She will return to New York on April 29.
SYRIA
This morning, the Security Council held an open briefing on Syria. Special Envoy for Syria, Geir Pedersen, told Council members that the political transition in Syria is now at a truly critical juncture. He added that in his recent discussions with the interim authorities, including Mr. Ahmad Al-Sharaa, he stressed the need for future constitutional process that involves all of Syria’s societal and political components.
For her part, Ms. Joyce Msuya, Assistant Secretary-General for Humanitarian Affairs, said that nearly three quarters of the population in Syria are in need and 7 million are displaced.
Since the start of the year, 960 trucks have delivered aid through the cross-border operation from Türkiye – more trucks than during the whole of 2024. However, we need more funding to sustain this work, let alone scale it further, she said.
Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=25%20April%202025
Published: 25th Apr 2025 06:37:31 By: United Nations
United Nations Video: Syria: Update on Transition - Security Council Media Stakeout | United Nations
Today, the World Food Programme (WFP) delivered the last remaining food stocks to hot meals kitchens it supports in the Gaza Strip. These kitchens will run out of ingredients by the end of the month. On March 31, all 25 WFP-supported bakeries closed as wheat flour and cooking fuel ran out. The same week, WFP food parcels distributed to families – with two weeks of food rations - were exhausted.
No humanitarian or commercial supplies have entered Gaza for more than seven weeks as all main border crossing points remain closed. This is the longest closure the Gaza Strip has ever faced.
Published: 25th Apr 2025 05:27:50 By: United Nations
United Nations Video: Peacekeeping: Berlin Ministerial (13-14 May) to Shape Future Missions and Reforms | United Nations
Peacekeeping Chief Jean-Pierre Lacroix today (24 Apr) told reporters in New York that the Peacekeeping Ministerial 2025, taking place in Berlin on 13-14 May, will be “a very important opportunity” for the UN and Member States to determine how to address challenges to ensure peacekeeping remains an “important, viable, credible and effective tool of the United Nations and multilateralism in the future.”
Lacroix said another issue to be discussed will be “how we can make peacekeeping more cost effective, because we are aware that we are operating, and we will be operating under increasingly severe financial constraints.”
He confirmed that Secretary-General António Guterres “will be participating in the Berlin meeting in two weeks’ time.”
Joining Lacroix, Germany’s State Secretary at the Federal Ministry of Defence, Nils Hilmer said, “we are convinced that UN peacekeeping has proven to be one of the most important tools the international community has an international crisis management. However, we still face many challenges with regards to changing conflict dynamics, disinformation campaign, or targeting missions. Hence, it is all the more important to discuss about the future of peacekeeping.”
Hilmer said, “we want to provide a forum for Member States to discuss how we can continue making UN peacekeeping strong, effective and fit for the future,” adding that “by participating at the Berlin Ministerial, delegations can underline their political support for UN peacekeeping, contribute to closing critical capability gaps, and reinvigorate UN peacekeeping reform efforts.”
The results of the discussions, he said, “will provide important input to the UN Secretary-General's review on the future of all forms of peace operations mandated in the Pact for the Future.”
The goal of the Berlin Ministerial, Hilmer explained, will be to “ensure UN peacekeeping remains at a sufficient level of preparedness for both current and potential future missions, and we want to increase overall mission effectiveness while enhancing safety and security of our personnel deployed.”
Germany’s Director-General for International Order, United Nations, and Disarmament at the Federal Foreign Office, Katharina Stasch, said the Berlin Ministerial’s aim, “is really to provide a follow up to the Pact for the Future. Actions must follow words.”
Responding to journalists’ questions, Lacroix said, “the United States is and has always been a very important part, and I should say, also a very important supporter of peacekeeping operation throughout the years. And we look forward to continuing cooperation with the United States. Now, when it comes to finances, I think that in any case, we are looking at times where financial resources will be limited. I think a very important challenge, to all of us really, is how we can improve the cost efficiency of peacekeeping.”
He said, “we operate on mandates, you know, those mandates are given to us by Member States, by the Security Council. We keep telling our Member States, please prioritize those mandates. You know, make sure that, you know, we know what are the key mandated tasks from your point of view that we have to implement. And then please give us an adequate level of resources, and please pay on time and in full.”
Leading up to the 80th anniversary of the United Nations and marking the 10-year anniversary of the Leaders' Summit on Peacekeeping, the 2025 Berlin UN Peacekeeping Ministerial is the latest in a series of meetings held at the Head of State, Government, or Ministerial level.
The UN Peacekeeping Ministerial will serve as a high-level political forum to discuss the future of peacekeeping and for Member States to express and demonstrate their political support. It will also provide a platform for delegations to announce substantial pledges in support of closing capability gaps and adapting peace operations to better respond to existing challenges and new realities, in line with the pledging guide.
Published: 25th Apr 2025 03:46:11 By: United Nations
United Nations Video: New Syrian Flag Raised at United Nations Headquarters
Luigi Mangione, the 26-year-old accused of killing UnitedHealthcare CEO Brian Thompson last year, pleaded not guilty Friday to all federal charges against him in the case. Also during Friday’s arraignment in Manhattan federal court, Mangione’s legal team indicated it wants his federal case to go to trial before his state cases connected to Thompson’s death, after the Justice Department said it would seek the death penalty in the federal case. #CNN #News
Published: 25th Apr 2025 11:15:04 By: CNN
CNN Video: Footage of Diddy physically assaulting ex-girlfriend will be shown to jury
Footage of Sean “Diddy” Combs physically assaulting his ex-girlfriend, Cassie Ventura, will be shown to the jury in his criminal sex trafficking trial, which is scheduled to begin next month. After numerous attempts to exclude the 2016 hotel footage, which was first reported on by CNN, the judge denied the Combs’ attorneys requests to eject the damning footage at a hearing. CNN’s Elizabeth Wagmeister reports. #CNN #News
Published: 25th Apr 2025 10:55:10 By: CNN
CNN Video: Voter confronts Jon Ossoff about impeaching Trump
Sen. Jon Ossoff (D-GA) told a voter during a town hall in Cobb County, Georgia that he “strongly” agrees that President Donald Trump needs to be impeached.
Published: 25th Apr 2025 10:51:45 By: CNN
CNN Video: Trump says US 'pretty close' on peace deal between Russia and Ukraine
President Donald Trump said the United States is “pretty close” to reaching a peace deal between Russia and Ukraine. It comes as special envoy Steve Witkoff is meeting with Russian President Vladimir Putin at the Kremlin. #CNN #News
Published: 25th Apr 2025 10:38:34 By: CNN
BBC News Video: Luigi Mangione pleads not guilty to federal murder charge over CEO's killing | BBC News
Luigi Mangione has pleaded not guilty to all federal charges brought over the fatal shooting of UnitedHealthcare CEO Brian Thompson in New York last year.
The 26 year old, who was arrested in December and accused of shooting Mr Thompson outside a Manhattan hotel, faces the charges of murder and stalking.
His not guilty plea means he will now face trial and prosecutors are seeking the death penalty if he is convicted.
Mr Mangione arrived at the Lower Manhattan court on Friday wearing a prison outfit and with his hands in cuffs. He acknowledged he had read the indictment against him before entering his plea, telling the judge: "Not guilty."
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#US #BBCNews
Published: 25th Apr 2025 08:21:24 By: BBC News
BBC News Video: What you need to know about the UK local elections in May | BBC Newscast
We’re looking ahead to local elections taking place in England on Thursday 1 May.
Adam and Chris are joined by friends of the podcast Matt Chorley and Professor Jane Green, Director of the Nuffield Politics Research Centre at the University of Oxford, to discuss the upcoming local elections, and tips for interpreting the results.
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#BBCNews
Published: 25th Apr 2025 05:00:58 By: BBC News
BBC News Video: The moment the Poás Volcano released 3km-high ash plumes above Costa Rica. #CostaRica #BBCNews
The UN has called on India and Pakistan to exercise maximum restraint as each side threatens the other in the wake of Tuesday's attack in Indian-administered Kashmir.
Indian police have named three of four suspected gunmen behind the attack that killed 26 tourists, saying two are Pakistani citizens and a third is a local Kashmiri man.
Pakistan denies Indian claims that it played a role in the shooting.
Tuesday's attack saw a group of gunmen fire on tourists near Pahalgam, a resort in the disputed Himalayan region.
Delhi has since suspended a water-sharing treaty with Pakistan and they closed the main land border between the two countries.
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#India #Pakistan #BBCNews
Published: 25th Apr 2025 03:44:05 By: BBC News
BBC News Video: Ukraine may have to give up land for peace, says Kyiv Mayor Klitschko | BBC News
Ukraine may have to give up land as part of a peace deal with Russia, Vitali Klitschko, the mayor of Kyiv, has told the BBC.
His comments have come after a growing pressure on Ukraine from US President Donald Trump to accept territorial concessions.
"One of the scenarios is… to give up territory. It's not fair. But for the peace, temporary peace, maybe it can be a solution, temporary," he said.
The former boxing champion-turned politician was speaking hours after a Russian missile-and-drone attack on Kyiv killed 12 people and injured more than 80.
But the 53-year-old stressed that the Ukrainian people would "never accept occupation" by Russia.
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#Ukraine #Russia #BBCNews
Published: 25th Apr 2025 12:40:09 By: BBC News
ODN Video: Crazy Footage Shows Moment Car Bomb Kills Russian General Yaroslav Moskalik
A car bomb exploded near Moscow, killing top Russian general Lt. Gen. Yaroslav Moskalik.
The explosive device
was placed in the
general’s car and
rigged with shrapnel,
said Russia's criminal
investigation agency.
The investigation committee is yet
to name possible suspects.
The attack comes just as US envoy Steve Witkoff meets with Russian President Vladimir Putin in Moscow to discuss a peace plan for Ukraine.
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Published: 25th Apr 2025 02:11:47 By: On Demand News
ODN Video: Thousands Queue to Pay Final Respects to Pope Francis
Thousands of Faithfuls from all over the world lined up to pay their last respects to Pope Francis, many of them spending hours to enter the public viewing of the casket.
Pope Francis’ body was moved to St. Peter’s Basilica for three days of public mourning, to allow faithfuls to come and see him one last time.
Friday marks the last of the three days of public viewing, before the Pope’s funeral on Saturday.
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Published: 25th Apr 2025 12:00:30 By: On Demand News
ODN Video: Major Manhunt Underway in Kashmir After Deadly Attack on Tourists
A major manhunt is underway after 26 tourists were killed by gunmen in Kashmir.
Police in Anantnag district named three suspects – two Pakistani nationals and one local man.
All are believed to be part of the Pakistan-based militant group Lashkar-e-Taiba, Indian police say.
They are also searching for an unidentified fourth attacker.
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Published: 24th Apr 2025 04:25:41 By: On Demand News
ODN Video: Kyiv Hit by Massive Russian Strikes, as Trump Tells Putin to 'STOP'
Videos capture the moment Russian missiles began raining down on Kyiv.
A series of Russian strikes hit the Ukrainian capital early this morning, resulting in at least nine people killed and over 70 injured.
It’s the deadliest aerial attack on Kyiv since July 2024.
#breakingnews #ukraine #russia
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Published: 24th Apr 2025 02:20:58 By: On Demand News
ODN Video: Shocking Footage Shows Moment of Tourist Attack in Kashmir
Chilling footage has captured the moment gunmen opened fire on tourists in the Baisaran Valley of Jammu and Kashmir on Tuesday, killing at least 26 people and injuring over a dozen others.
The victims were mostly sightseers visiting the popular Pahalgam area in Anantnag district.
The shooting happened in a remote part of the valley, accessible only by foot or horseback, making emergency response difficult.
Police said several tourists were taken to hospital with gunshot wounds, and the area has since been sealed off by security forces.
#breakingnews #india #kashmir
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Published: 23rd Apr 2025 03:23:02 By: On Demand News
CBC Video: Where do parties stand in the final days of the campaign? | Power & Politics
As the federal election campaign enters its final days, the CBC Poll Tracker has the Liberals in a narrow lead over the Conservatives, with the NDP trailing at 8.6%. Poll watcher Éric Grenier of TheWrit.ca stops by Power & Politics to look at each party’s position in the 11th hour of the campaign.
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Published: 25th Apr 2025 11:29:35 By: CBC News
CBC Video: What's behind tensions between federal and Nova Scotia teams? | Power & Politics
Sources tell CBC News there are simmering tensions between Nova Scotia Premier Tim Houston's Progressive Conservative team and Jenni Byrne, the national campaign director for Pierre Poilievre's Conservatives. Our panel of party insiders discusses what's behind the rift and how a patriotic video released by Houston ahead of Poilievre's sole visit to Nova Scotia during the election campaign is being viewed.
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For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.
Published: 25th Apr 2025 11:29:29 By: CBC News
CBC Video: Why some U.S. states are now suing Trump over tariffs | Power & Politics
Twelve states filed a federal lawsuit against U.S. President Donald Trump over his tariff war, arguing the basis for it is illegal. Power & Politics speaks to Oregon Attorney General Dan Rayfield, who is leading the lawsuit.
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For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.
Published: 25th Apr 2025 11:26:47 By: CBC News
CBC Video: Seen any candidates? Voters in some ridings say election hopefuls have been no-shows during campaign
Voters in some ridings have noticed many candidates haven’t attended local events or made in-person appearances during the campaign. Experts say there are usually two reasons why candidates stay out of the spotlight, apart from election signs.
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For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.
Published: 25th Apr 2025 11:21:25 By: CBC News
CBC Video: Power & Politics | Party leaders make their final pitch to voters
As the federal party leaders enter the final campaign weekend, the Political Pulse panel unpacks their final messages to undecided voters. Plus, CBC's chief political correspondent Rosemary Barton discusses what's at stake for each party come Monday.
Power & Politics is your daily guide to Canadian politics and the latest on the election campaign trail. David Cochrane follows the leaders as they make their case for votes, checks in with the country’s best political journalists and analysts, and guides Canadians through the quickly-evolving drama of politics in election time.
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For more than 80 years, CBC News has been the source Canadians turn to, to keep them informed about their communities, their country and their world. Through regional and national programming on multiple platforms, including CBC Television, CBC News Network, CBC Radio, CBCNews.ca, mobile and on-demand, CBC News and its internationally recognized team of award-winning journalists deliver the breaking stories, the issues, the analyses and the personalities that matter to Canadians.
Published: 25th Apr 2025 11:03:54 By: CBC News
International Video: Earth Day: What does future hold as climate denialism rises
Today it's Earth Day. Established 55 years ago as a result of humans first travelling to the moon and gazing down on our fragile blue planet floating in a sea of darkness.
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Today, astronauts who have had the privilege to look down on Earth from space have gathered in central London to talk about how the future of space exploration can help save our planet.
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Pope Francis's body will lie in state at St Peter's Basilica at the Vatican from tomorrow morning. Mourners will be able to file past to pay their respects ahead of Saturday's funeral.
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Thousands have been here today and it's already clear that there are deep divisions about how they viewed Pope Francis, and which direction the Catholic church should head.
A warning that this report contains images of Pope Francis lying in state.
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With the world still reeling from Donald Trump's tariffs, the International Monetary Fund (IMF) has slashed the UK's growth forecast and says the global economy will see a "significant slowdown" - add to that, wars in Europe and the Middle East, climate change and the promise and peril of AI.
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So is it possible to find hope amongst this constant chorus of doom and gloom?
One person who thinks they have an answer is Rutger Bregman, a progressive historian famous for taking on the Davos billionaires.
He joins Matt Frei on the latest episode of The Fourcast.
Produced by Holly Snelling, Calum Fraser, Rob Thomson
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Israeli strikes in Gaza have killed at least 14 people according to Palestinian authorities.
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The latest attack comes as a Hamas delegation are set to hold talks in Cairo for a new ceasefire deal.
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The death of Pope Francis has been confirmed and the Vatican is now in a period of mourning that will last nine days.
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