Who pays them? The suppliers, the receivers, or both?
If it's the suppliers, what incentives would they have to continue doing business with companies in the U.S.?
If it's the receivers, wouldn't they then have to raise prices on goods coming from specified countries in order to maintain their profit margins? How would consumers be affected by the higher prices?
Who collects them?
If the U.S. government collects them, that should be a windfall for its coffers. Does that mean we going to see a tax reduction in the near future?
SMALL PICTURE
The importer write the checks.
The consumer pay more initially.
In the longer term, the importer looks for a new source of goods, say cheap Vietnam instead of now expensive China.
The consumer pays less.
BIG PICTURE
A government with a $4.4 trillion budget needs tax revenue.
Taxpayers can either have the needed tax taken out of paychecks or pay at the store till.
The receivers.
If it's the receivers, wouldn't they then have to raise prices on goods coming from specified countries in order to maintain their profit margins?
Yes, but they also look for non-tariffed suppliers for the same goods. Consumer prices will go up but not necessarily by the full amount of the tariffs.
How would consumers be affected by the higher prices?
Lower standard of living.
Who collects them?
US Customs and Border Patrol
If the U.S. government collects them, that should be a windfall for its coffers. Does that mean we going to see a tax reduction in the near future?
The money goes into our coffers but it's US consumers ultimately paying the tariffs. There may be some redistribution of the taxes (tariffs vs income tax, etc.) but the total burden will actually increase unless there's a tax cut.