What is the effect on the economic well-being of a nation when a tariff is imposed? Consult a newspaper and identify an industry where there currently is a tariff. please provide the source.. What is the effect of this tariff on the U.S. economy? Think about all the things you buy that are made in China? It is a sizable portion of your Disposable/Discretionary Income. Now imagine that ALL those goods increased in price by say 15%? is that "good" for you? You will have less effective 'consumption' power, literally less income to buy the stuff you need. Is that GOOD?... If China bends to global pressures to "float" its currency that is what will happen - this is the same as taxing or tariffs, the increased cost will be shared, we will buy less, China will be paid more, our manufacturers will get a 'bump' in profits, we may see a bump in employment (that will probably not happen, more manufacturing will be done In India and Indonesia, not USA).