Tariffs—taxes placed on imported goods—are one of the oldest tools in the United States’ economic policy arsenal, dating back to the 18th century. Recently they’ve returned to the spotlight in a big way. From steel and solar panels to shoes and semiconductors, tariffs have been used to confront economic rivals, protect domestic industries and respond to shifting geopolitical tides.



Summary

Tariffs, taxes on imported goods, are a longstanding U.S. economic tool, recently experiencing a resurgence. These taxes, dating back to the 18th century, are being deployed across diverse sectors like steel, solar panels, and semiconductors. The renewed focus on tariffs reflects their use in addressing economic competition, safeguarding domestic industries, and reacting to changes in global political dynamics.

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