Trump's proposed tariffs would reduce American incomes by 6.3 - 2.9% depending on your income level. Americans that earn less money would suffer more.
Trump's proposed tariffs would reduce American incomes by 6.3 - 2.9% depending on your income level. Americans that earn less money would suffer more.
Screenshot of the chart by the Peterson Institute, from a news TV broadcast on MSNBC.
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Let's be real, companies are committing trade fraud and just shipping their goods to a different country that doesn't have tariffs then reshipping to the US. I listened to it on Planet Money. The sad part is, the US government isn't investigating or enforcing the tariffs. It's useless.
How would you really fix that though, if China builds manufacturing plants in Mexico, and then car dealers purchase their cars from there, placing higher tariffs on Mexico doesn't fix the issue, it just jacks up the cost of groceries, assuming the tariffs apply to all products and not just per company.
Is the idea to track the majority owners of every company and then tariff trade by company rather than where they are manufactured? What is the difference at the end of the day between a company moving manufacturing to Mexico to make the cars to avoid paying tariffs and a company making manufacturering plants for computers/phones in say China/India to get cheaper labor, and then sell the units back in the U.S.
We need a thorough revision of what the goals are and force the practices on all U.S. companies as well to make it ever workable long term.
All I know is that free trade is not fair trade. The solutions to this are referred to as "communism," so it won't be taken seriously or when it is taken seriously they'll send in police/CIA/hitmen to fuck shit up to put an end to it.