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We've seen a lot of talk about tariffs, so let's breakdown what that actually means. Now a tariff is a tax charged on an imported goods from another country. So it's essentially a fee that aims to make foreign made goods more expensive than local ones. Now a government uses tariffs for three reasons. To encourage local production, protective domestic industries from foreign companies that can make products in a cheaper way and to raise tax revenue. Now the business buying or importing those goods, they pay the fee. Then they have to decide, do they absorb that or do they pass it on to us, the customer? Normally, the business raises prices. That means you could pay more for electronics imported from other countries. Now, the US already enacted tariffs under the Trump administration against China. The Biden administration kept those in place. This did raise prices for consumers. It also increased tax revenue for the US by 10s of billions of dollars and protected some smaller businesses from cheaper Chinese products. So in that respect, it's a trade off. president-elect Trump has shared that he plans to enact more tariffs. Against China and other nations when he takes office, But he's also said it could be a negotiating tactic in order to get more favorable terms with our trade partners. Ultimately, we don't know if his administration will actually impose those tariffs. But for now, businesses and consumers alike are preparing for that possibility.