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Devon Littlefield
Financial Advisor
Reliant Investment Services
Located at
Reliant Community Federal Credit Union
10 Benton Place, Sodus, NY 14551
Phone: 800-724-7889 Opt. 1
Email: devon.littlefield@lpl.com
January/February 2026
Understanding Tariffs
Tariffs are taxes imposed by governments on imported or exported goods, primarily to regulate trade, protect domestic industries, or generate revenue. They play a crucial role in international economics, influencing prices, supply chains, and global relations. There are several key types of tariffs, each designed for specific objectives.
Ad Valorem the most common, is calculated as a percentage of the imported good's value. For instance, a 10% tariff on a $100 item adds $10, making it flexible with fluctuating prices.
Specific tariffs charge a fixed fee per unit, regardless of value— such as $5 per barrel of oil. This provides predictability but can disproportionately affect cheaper goods.
Compound tariffs combine both by applying a percentage plus a fixed amount, offering balanced protection.
Other variants include protective tariffs, which shield local producers from foreign competition by raising import costs, and revenue tariffs, aimed at funding government without restricting trade heavily. Prohibitive tariffs are extremely high, effectively banning imports to safeguard strategic sectors.
Overall, tariffs shape economic policies, but they can spark trade wars if misused.
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Devon Littlefield is a financial advisor with, and securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Reliant Community Federal Credit Union and Reliant Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Reliant Investment Services, and may also be employees of Reliant Community Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Reliant Community Federal Credit Union or Reliant Investment Services. Securities and insurance offered through LPL or its affiliates are:
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