Basically, the plan was generally 10-15% baseline tariff across the board for all countries, and higher rates for sectors such as steel and aluminum.
lewisleclerc•2h ago
I could be wrong but once tariffs are set to higher rates, it's extremely difficult to lower them by subsequent leaders
breadwinner•2h ago
This will lead to inflation. Once prices increase, the prices won't come down, so the inflation will be permanent.
US manufacturers will get used to decreased competition, which will lead to poor quality and decreased innovation.
Smuggling will increase, particularly from Canada. Instead of going to the Apple store to buy your next phone you will agree to meet a stranger in a dark alley and pay cash to buy a smuggled iPhone.
The tariffs will be felt by poorer Americans while the rich will barely notice.
mensetmanusman•37m ago
If the government taxes goods by an additional 1%, is that 1% inflation?
breadwinner•22m ago
If the price goes up then yes.
mensetmanusman•35m ago
The $0.75T energy purchase is also huge.
Russia shot itself in the face creating a failed state at its border and destroying trade relations.
aborsy•2h ago
lewisleclerc•2h ago
breadwinner•2h ago
US manufacturers will get used to decreased competition, which will lead to poor quality and decreased innovation.
Smuggling will increase, particularly from Canada. Instead of going to the Apple store to buy your next phone you will agree to meet a stranger in a dark alley and pay cash to buy a smuggled iPhone.
The tariffs will be felt by poorer Americans while the rich will barely notice.
mensetmanusman•37m ago
breadwinner•22m ago