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Clausing and Obstfeld (2025) present a detailed exposition of the economics of the fiscal impacts of tariffs as well as summarize revenue estimates and calculate the revenue maximizing level of tariffs

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Tobacco spending takes up a meaningful share of limited household budgets in poorer families, reducing resources available for food, education and other essential needs. At the same time, smoking-related illness increases medical expenses and can reduce a households ability to earn income, deepening financial strain over time, he added

Vaping allows the active CBD and other valuable hemp cannabinoids to absorb directly through the lungs, bypassing the digestive system so that more compounds reach your body's systems

Washington, DC: Author