• elucubra@sopuli.xyz
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    20 days ago

    Tariffs make companies able to compete better within the walled garden, but weakens their competitiveness worldwide. It creates a race to the bottom inside the garden, but makes them weak outside the border. They also makes prices increasefor the local buyers. Costs get passed along, it’s not as if manufacturers are going to absorb increases, they don’t need to. GM, Ford, Chrysler are all going to pass them on (as any domestic manufacturer)

      • Burninator05@lemmy.world
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        18 days ago

        They are effectively a tax and are collected by the federal government. One of Trump’s yapping points is to get rid of income tax and use the money from tariffs to replace that lost tax income. This will hurt 90% of people in the US because the amount they will pay in higher product costs due to tariffs will be higher than the cost of the taxes they pay. The wealthy on the other hand won’t have to pay their fair share.