Robert ReichNo matter what Trump says, tariffs aren’t paid by other countries—they’re paid by you, the consumer. If Trump were truly the business genius he claims to be, you’d think he’d understand that. But then again, his businesses have filed for bankruptcy six times.
GC Stone@rbreich Breaking news!
56% of U.S registered voters support Trump's blanket tariffs on imported goods:
https://www.usatoday.com/story/news/politics/elections/2024/09/16/donald-trump-tariffs-2024-election-poll/75246207007/
Related:
56% of U.S. registered voters want higher inflation:
Because tariffs are ultimately paid by the U.S. consumers, not the foreign country importing the goods!
Tariffs are inflationary and equivalent to a regressive tax because they are paid by the US importer/ producer who passes that cost on to the US consumer.
Tariffs lead to price gouging by retailers if domestic goods do not have to compete with lower priced imports.
