Obviously. The point is, that if you make the product in the United States, you won’t pay the tariffs.
Who would have thought that importing a product from China is when the 30% tariffs would apply?
Biden never rolled back Trump’s 2017 Tariffs. Why didn’t he?
Oooooooooo
The problem is that it makes everything more expensive. With the alternatives costing 30% more all the domestic just raise their prices by 30% to match. Of course that gives some wiggle room for domestic to be like maybe 1% lower but basically everything shoots up because capitalism and extracting as much value as possible.
Like when the steel and aluminum tarrifs went into effect the domestic prices jumped up with it.
I think once China slapped on retaliatory tariffs om farmers and the US had to drop a new wave of subsidies it locks in the tariffs a bit until a new wave of negotiations can be made. I suspect China stalled those negotiations in hopes they could dupe trump into a better deal.
Given Trump is saying that the trade deal with Mexico is bad (the deal he negotiated) and is threatening tariffs on Mexico its clear he is just using tariffs as a scare tool. Unfortunately every world leader saw him get dog walked in the debates and knows he’s a moron so now its unlikely he’ll be taken seriously.
Major costs for most people are housing, transport and groceries - mostly domestic products already. We’d be far better off reducing those prices first.
Realistically the US would need to import raw materials for things like electronics so for a lot of things it would just raise prices and domestic infrastructure/manufacturing would remain unchanged.
Tariffs make companies able to compete better within the walled garden, but weakens their competitiveness worldwide. It creates a race to the bottom inside the garden, but makes them weak outside the border. They also makes prices increasefor the local buyers. Costs get passed along, it’s not as if manufacturers are going to absorb increases, they don’t need to. GM, Ford, Chrysler are all going to pass them on (as any domestic manufacturer)
They are effectively a tax and are collected by the federal government. One of Trump’s yapping points is to get rid of income tax and use the money from tariffs to replace that lost tax income. This will hurt 90% of people in the US because the amount they will pay in higher product costs due to tariffs will be higher than the cost of the taxes they pay. The wealthy on the other hand won’t have to pay their fair share.
This is why Trump wants immigrant labor camps
It would have been helpful if they made this statement before the election.
