The general consensus is tariffs would drive inflation. Biden implemented some but not as broad as Trump's proposals. And China and other countries would retaliate. I'm not sure why Trump has locked onto the idea of broadly applied tariffs - or if it was just an exaggerated campaign promise. "Donald Trump has identified what he sees as an all-purpose fix for what ails America …asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. “Tariffs are the greatest thing ever invented,’’ Trump said this month in Flint, Michigan." Trump favors huge new tariffs. How do they work? | PBS News
Some still need to get it through their thick heads that tariffs are not paid by the other country, but by the consumers.
Easy sell for Trump. Shifts the tax burden downward paying for some much needed top tier tax cuts. Few units at higher prices just made a lot of us wealthier.
I do not want to wish ill on most people, but when prices on everything at Wal-Mart go up 60-100%, Trump-ets will finally get a good taste of what they have empowered.
DC slammed Trump’s tariffs. Biden’s decision to keep them draws a very different reaction. https://www.politico.com/news/2024/05/15/biden-tariff-reaction-trump-00158043 Thanks Joe.
"Party of Reagan" against free trade. Farce-level stuff. Just the latest sign that their only objective is to protect the bottom line of certain well-connected industries, no matter the harm to the consumer
Last time when they cut corporate taxes big time, but gave the working class the gift of changing the withholding tables so they thought they got tax cuts then owed on their returns. People voted for this again.
For national security reasons the US should be less dependent on Chinese manufacturing. Tariffs will help fix that. Are tariffs good for the US economy? I would say no..But do we really want China controlling our prescription drug supply (for example). Trump will use the threat of high tariffs to get better trade deals with China and other countries. Art of the deal. Edit: AzCatFan rated this post "funny." Seems like a common sense post to me.
It's been almost 8 years since the tariffs were implemented. When can we expect these better trade deals?
If the interest is in decoupling trade w/ China, the best “tariff” was actually COVID-19. A lot of western businesses caught with their pants down on that when a still “locked down” China was unable to keep up with supply chains.
Because Biden agrees to do it too that means it was a good idea. The difference between MAGA and everyone else is we are allowed to say when the person we votes for does wrong
