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

By Kent Jones, Professor Emeritus, Economics, 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…

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