Note to Harris: reinforce the economic RISK posed by Trump. Explain how a 20% across-the-board Trump tariff will increase prices by 20%. If people understand this, many will change their vote from Trump to Harris.
* When a tariff is imposed, the importer has to pay more to bring the goods into the country. (This is apparently lost on Trum…
Note to Harris: reinforce the economic RISK posed by Trump. Explain how a 20% across-the-board Trump tariff will increase prices by 20%. If people understand this, many will change their vote from Trump to Harris.
* When a tariff is imposed, the importer has to pay more to bring the goods into the country. (This is apparently lost on Trump!)
* Importers will pass these increased costs onto consumers in the form of higher prices for the products they sell. (Inflationary!)
* Tariffs reduce competition from foreign producers, giving domestic producers more power to set higher prices. (Inflationary!)
QED!
As a bonus, explain why targeted tariffs are important. Answer: if a foreign country subsidizes a sector, making those products unfairly cheap, it will kill that sector in the US. Thus, unfair foreign subsidies are addressed with targeted tariffs, “leveling the playing field”.
There would not be a 1:1 correspondence between the tariff rate and price increases. It depends on too many factors that are hard to measure in advance. So, price increases overall would be less than 20%, although in some markets it could be even more than 20%.
Note to Harris: reinforce the economic RISK posed by Trump. Explain how a 20% across-the-board Trump tariff will increase prices by 20%. If people understand this, many will change their vote from Trump to Harris.
* When a tariff is imposed, the importer has to pay more to bring the goods into the country. (This is apparently lost on Trump!)
* Importers will pass these increased costs onto consumers in the form of higher prices for the products they sell. (Inflationary!)
* Tariffs reduce competition from foreign producers, giving domestic producers more power to set higher prices. (Inflationary!)
QED!
As a bonus, explain why targeted tariffs are important. Answer: if a foreign country subsidizes a sector, making those products unfairly cheap, it will kill that sector in the US. Thus, unfair foreign subsidies are addressed with targeted tariffs, “leveling the playing field”.
There would not be a 1:1 correspondence between the tariff rate and price increases. It depends on too many factors that are hard to measure in advance. So, price increases overall would be less than 20%, although in some markets it could be even more than 20%.