What are tariffs and how do they affect the economy? In this Explained in 60 Seconds video from TCU’s social media team, Rishav Bista, associate professor of economics at TCU, explains how tariffs work, why governments use them and who feels the impact the most. From higher consumer prices to potential job losses and global trade tensions, his breakdown answers one of the most common questions in economics: how do tariffs affect everyday people as well as entire industries?