econoboner wrote:
Annnnnd more tariffs now going into effect. Complete blunder by Trump.
Just hurts American workers and American consumers...not even in some weird complicated mathematical way either.
Tariffs only substantially hurt China if US importers find other tariff-free countries to import from. Shopping for goods from other countries is not necessarily a good bet. US importers might not find the goods they want from other countries, and even if they do, despite being tariff-free, the base cost could be more than they could get from China.
When US importers continue to accept goods from China (with tariffs), those US importers pay the tariffs thus accepting a lower profit margin meaning less pay and potential job losses for American workers, and then US consumers pay more at the point of purchase.
Nice. Trump is a goober. We are living in ridiculous times.