Title: 
Headings: Tariffs Definition
Tariffs Definition
4 Types, How it Works, Who Pays
What are Tariffs
Key Points
How Does a Tariff Work?
Section 321 – Imports Under $800
Informal – Imports Under $2,500
Formal – Imports Over $2,500
Conclusion on how tariffs work
Who Pays for Tariffs
Consumers
Corporations
China
US Exporters
4 Types of Tariffs
Ad valorem Tariffs
Specific Tariffs
Compound Tariffs
Tariff-rate Quota
Why Tariffs are Used
1. Protect Domestic Employment
2. Infant Industries
3. National Security
4. Retaliation
General FAQs on Tariffs
Further Reading

Content: So whilst consumers pay more, some corporations will also take a hit. China
On the other hand, tariffs can cause shocks in exchange rates. As we have seen between the US and China, the Chinese Yuan weakened significantly. In turn, the cost of Chinese imports has become naturally cheaper as the US Dollar can buy more. So the cost of Chinese goods has become cheaper, but those lower prices haven’t been passed onto the consumers due to the additional tariff. However, it means Chinese companies are still able to obtain US business. US Exporters
Consumers pay the majority of the costs, however, corporations also take a hit. At the same time, exchange rates matter, and the lowering Chinese Yuan has limited the impact on consumers. Chinese importers are getting paid the same in Yuan, but lower levels are US dollars, so it has made US imports to China more expensive. In turn, this has affected US exports to the region as they have become comparatively more expensive to Chinese importers.