Tariffs

[MightyGiants]

Yeah the whole buy American thing is xxxxxxxx. If a low income family or even medium income family is buying something new they need they are going for the cheaper option. Let's just use silverware as an example, I looked up and found a 48 piece silverware set for $10.96 from China. The American version for only 24 pieces was $228 dollars. Even if you add the 104% tariff, people are still going to go for the $20 dollar item over the $228 dollar version. You have just cost the typical family more money and solved nothing. Because the families that did have the luxury to buy American only goods were already doing so before the tariffs.

While there is certainly a feel-good factor in buying American, economic realities don't care about your feelings.   The reality is that we live in a global economy.  That benefits us, as Americans, because we can buy cheaper goods from countries that can produce them cheaper, which allows us to enjoy a higher standard of living than we otherwise could.

Tariffs are essentially a targeted and high tax that is designed to hit those earning less and, in the end, lower our standard of living.   One of the things that I don't hear mentioned in the tariff discussions is how raising the price of imported goods will allow domestic manufacturers to raise their prices as well, since they will no longer be constained by low-cost foreign competitors (think things like autos).

[bamagiantfan]

I agree we need to make more in this country, but the way to do that is to subsidize American businesses, not put tariffs on foreign made products. The Republicans call that Socialism while they approve another round of subsidies for the US oil companies.

I am still trying to see what the Grand Plan is. This putting government employees out of work, disrupting the economy with tariffs which will support further inflation, and lowering taxes will not help any household making under $200K annually, and I don't just mean in the short term. There is a referendum coming on this Congress in 18 months because the President is untouchable until 2028. Unfortunately, they probably feel the only way they can keep their jobs is with a tax cut. Fuel for the fire.

Moody's just downgraded the US. The bond market is continuing to churn. As Betty Davis said, "Fasten your seat belts. Its going to be a bumpy night."