Wyze gets $255K tariff bill for $167K worth of floodlights. That’s a 152.5% tax rate.
https://www.tomshardware.com/tech-industry/wyze-gets-first-tariff-bill-component-imports-pays-usd255k-in-levies-on-usd167k-worth-of-floodlights
#Wyze #TomsHardware #tariffs #TrumpHikedYourTaxes #ThankTrump #inflation #recession #trade #economics
It usually takes years for a US president's activities to show up in the economy.
But when you stop executing US law—in violation of the US Constitution—and neither Congress nor SCOTUS stops you, change can happen very quickly.
And anyone who thought Trump was just going to lower taxes was completely blind—he campaigned on raising tariffs, and tariff is a synonym for tax.
"A US economy praised for its surprising resilience to a pandemic, high inflation, and rapid interest rate hikes faces a new challenge from President Donald Trump's self-declared trade war, seen by economists as a recipe for fewer jobs, slower growth, and higher prices.
"The fallout, assuming Trump does not backtrack in the face of falling stock markets and cracks to consumer and business sentiment, is expected to be broad, deep and time-consuming...
"...the effective tariff rate spread across roughly $3 trillion in U.S. imports might rocket to 16% by early 2026 from a current baseline of about 3% if Trump follows through on all his threats. 'That would be the highest rate since 1936,' during the Great Depression, and 'gets you flirting with stagflation' - the toxic mix of weak growth, high joblessness and persistent inflation that epitomized the 1970s."
https://www.reuters.com/markets/us/storm-clouds-gather-over-us-economy-trump-kicks-off-trade-war-2025-03-04/
John Refior