9 Nov 2024 7:37 pm
Here's an idea: Buy American and there are no tariffs.Vegas » 09 Nov 2024, 12:23 pm » wrote: ↑ There are always pros/cons to tariffs...well, for any issue for that matter. However, in this particular case, there appears to be more harm in it for Americans than good. Trump believes that these tariffs will reduce our trade deficit and encourage more domestic production. However, tariffs always have the danger of inducing inflation. We are still dealing with high prices. We can't afford our inflation to rise higher. The numbers of inflation were manipulated by the Biden/Harris administration. They don't accurately depict the real inflation. Tariffs increase the cost of imported goods, leading to higher prices for consumers. This can reduce purchasing power and disproportionately impact lower-income households. Even if domestic production increases, and that is a big if, it isn't going to offset the higher prices that we are already enduring.
- China: A 60% tariff on all Chinese imports, aiming to reduce the U.S. trade deficit and encourage domestic manufacturing.AP News
- Mexico: A 25% tariff on all imports from Mexico, intended to address concerns over trade imbalances and manufacturing shifts to Mexico.U.S. News & World Report