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Taxing Trade
What are tariffs?
A tariff—a word derived from the Arabic "arafa," meaning “to make known”—is a tax imposed by a government on goods that are imported or exported.

Economically, tariffs aim to protect domestic industries, generate government revenue, and influence trade policy. Tariffs can be specific (a fixed fee per unit) or ad valorem (a percentage of the item's value).

Historically, tariffs have served as a primary source of revenue and a means to protect domestic industries, as they make foreign products more expensive—encouraging consumers to purchase locally produced goods. The tools have a checkered history, famously bolstering US textiles, German steel, Japanese cars, South Korean technology, and more, while arguably contributing to major economic downturns like the Great Depression.

... Read our full explainer on tariffs here.

Also, check out ...
> The role of tariffs in ancient Rome. (More)
> Worldwide use of tariffs has trended downward for decades. (More)
> One of America's first acts implemented tariffs. (More)



Frigid Confections
Ice Cream, 101
Whether it’s in a sundae, a cone, or blended into a shake, ice cream is one of the United States’ favorite indulgences—97% of Americans say they like or love the chilly treat. US ice cream production hit 1.31 billion gallons in 2024, with the average American eating a whopping 19 pounds.

Ice cream is the final result of a complex process that blends several ingredients. As it’s being made, the ingredients change significantly throughout the production process, ultimately giving the dish its signature “scoopable” texture.

Ice cream’s celebratory nature brings people together, especially in the days before widespread home refrigeration. In the late 1600s, Paris’s Café Procope first began serving the sweet treat to the public; the trend quickly spread, particularly in Italy, where some parlors have been open since the 1700s.

... Read our full overview on ice cream here.

Also, check out ...
> America's ice cream obsession began under Prohibition. (More)
> George Washington spent thousands on ice cream one summer. (More)
> Visualizing Ben & Jerry's legendary flavors. (More)

SOURCE:  1440 NEWS