By Mark Van Loon, Hamilton
Really?
“China will pay for these tariffs.” In what Universe? Maybe when Mexico pays for the wall? Remember your junior high economics – tariffs are taxes on products coming INTO our country. We pay the tariffs.
And we even pay more when we buy other products? That’s right. In the first round of Trump’s tariff war, the cost of a washing machine made in China went up about $100. The cost of dryers went up about the same. Dryers were NOT on the tariff list. Tariffs are intended to make local, more expensive items more attractive, but the cost of American made washers went up too!
The last couple rounds of Trump’s tariff wars have included almost every manufactured good – in whole or in part – so prices will go up on everything while our wages barely keep up with inflation. And China is imposing tariffs on US goods making them more expensive and thus hurting sales so we’re making less money.
It couldn’t be much clearer that Trump, Kudlow and this administration are clueless about how these things work.
As an Independent, I’m interested in issues and information. I encourage you to do some non-partisan research.