On today's Planet Money:
You may have heard something about the new iPhone. But have you heard about the Harmonized Tariff Schedule? That's the giant book of guidelines by which import specialists like Brett Ewing and Jim Henderson classify everything from wood flooring to handheld gizmos for importing into the United States.
Their mission is to determine whether importers have paid the right duties on their goods, and whether exporters are illegally dumping their wares on the American markets. Economists say tariffs, their main tool, make things more expensive for everyone.
Bonus: View from a passing train.
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Phawkwood writes:
I've been volunteering for a small tourist railroad in Belton, MO (just south of Kansas City MO) for 9 years. Our line runs behind the shop and equipment yard for an excavation company. In all that time I think this is the most equipment I've seen parked in the yard. Even on weekends when the train runs there would only be a few things parked there.
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