All About Tariffs - Understand Them

5th April 2025

João Sousa at the Fraser of Allender Institute of Strathclyde University has produced a very good short guide to tariffs.

Despite was the US President says, tariff is - at least among economists - far from the most beautiful word in the English language. But it's certainly the word of the week, and has been resurrected from the doldrums of interest in seemingly no time.

Briefly the article covers the following -
What even is a tariff?

What do economists know about tariffs?

Who wins and who loses?

Are there any sensible reasons for increasing tariffs?

How big an increase in tariffs is this, and what precedent is there?

Will this lead to reshoring? Structural change is not a two-way street.

To retaliate or not to retaliate - that's the question.

Mostly, though, this is bad news for the Chancellor of the Exchequer

Read the full article HERE