In other cases #tariffs could backfire on the #US #economy, by inviting retaliation from foreign govts & raising costs for #consumers. Economic research has indicated that the cost of tariffs tend to be borne by #American #businesses & #households, rather than #ForeignCompanies.
“#Trump seems drawn to trade tariffs as a bargaining tool w/other countries because tariffs have powerful domestic #political #SYMBOLISM…,” said Eswar Prasad, a trade economist at Cornell U.
#tariffstaxeverydayamericans — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #tariffstaxeverydayamericans, aggregated by home.social.
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#Trump has long maintained that imposing tariffs on foreign products can protect American #factories, narrow the gap between what the #UnitedStates #exports & what it #imports, and bring uncooperative foreign govts to heel. While in office, Trump used the threat of #tariffs to try to convince #Mexico to stop the flow of undocumented #immigrants across the US border, & to sway #China to enter into a trade deal w/the #US.
#economy #TariffsTaxEverydayAmericans
#debate #election #policy #USpol -
For #Trump, #Tariffs Are the Solution to Almost Any Problem
Trump has proposed using tariffs to fund #ChildCare, boost #manufacturing, quell #immigration & encourage use of the dollar. Economists are skeptical.
#economy #TariffsTaxEverydayAmericans
#debate #election #policy #USpol
https://www.nytimes.com/2024/09/10/us/politics/trump-enthusiasm-tariffs.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=c-cb&ngrp=mnp&pvid=85AEE595-3E79-4BFD-B22C-2080B07216C0