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Scott Lincicome
@scottlincicome
Yep. This is one of many myths/misunderstandings tariff fans peddle: they don't just mean Americans will instead buy US products at the same (lower) prices they were paying for imports. They'll pay more - often a LOT more.
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Justin Wolfers
@JustinWolfers
Thing is, tariffs aren't just a tax on imports. They also reduce competition, leading American companies to raise their prices. x.com/JustinWolfers/…
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David Watson 🥑
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Scott Lincicome
@scottlincicome
When I used to litigate steel antidumping cases yrs ago, clients (who were US manufacturers) wld talk abt how US steelcos renegotiated supply contracts - at higher prices, of course - after filing a new case. With import competition threatened, Big Steel had em over a barrel.
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Scott Lincicome
@scottlincicome
Big Steel would even impose supply quotas - called "allocations" - bc they couldn't meet all the (artificial) US demand, so downstream manufacturers couldn't expand or in some cases even meet EXISTING sales contracts. Heckuva system.
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水無 灯里味方
@StevenLHess
Inflation & tariffs added $100 to an E-bike battery in a year. The US E-bike company was forced to pass that on to the consumer. That consumer being me. Anyone should be able to find how tariffs impact their lives easily if they take the time to look.
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Dudley Snyder
@DudleyNYC
I love this story. It was a twofer! Dryer prices went up as much as washers, even though there were no tariffs on dryers. 1,800 new jobs and it only cost consumers $1.5 billion per year. Who minds paying $178 more for a washer/dryer pair?
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MrLogistics
@MisterLogistic
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Stevan Bolton
@StevanBolton
The missing part of the equation here is American wages are also reduced when there is no tariff wall, so they can't afford to buy those goods. The U.S. consciously had very high tariffs from the Revolution right up to the 1970s in order to protect its high valued-added
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Brandon Michael Vincent 🗽
@enemy88_
Tariffs wouldn’t matter as much if there weren’t other factors compounding the issue, such as government spending. No one sits there and checks the pricing of things due to tariffs. They can feel the increased cost of living without needing a graph from social media.
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egratia
@egratia
Serious question: Can you please explain this within competitive markets. Shouldn't competition between those non tariffed that prevented price hiking opportunism. I've heard the argument that tariffs were also on input good to the domestic makers, so their costs rose. But
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Michael
@novussubsole
But isn't your brand of truly dogmatic anti-empirical market liberalism truly pitiable? I mean people like you aren't even willing to discuss in good faith the idea that tariffs can help to enhance long-term growth, bolster innovation, reduce regional disparities etc...
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Wyckham Seelig
@wdseelig
If paying more for washing machines and a thousand other items results in putting the 7 million working-age men who have left the workforce rather than responsibly support families then the tradeoff is well wortth it.
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neil chernoff
@midlifeguy548
Obama and Biden have used tariffs all the time. Biden increased the aluminum tariff from <7.5% to 25% in May. Nobody ever cares if its a Democrat in office, only if its Trump.
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Alejandro
@gul_garak
And the drop in competition doesn't only lead to higher prices, it also leads to worse quality products and services.
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The Captain's Blog
@williamnyy23
That tariffs raise prices is indisputable. The real question is what is gained in exchange for those higher prices. If a real benefit can't be demonstrated, the tariffs are counter productive. But, if it can, then the debate begins.
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to_wit
@weshjazz
As a business owner with manufacturing facilities in USA and China, tariffs did nothing but increase cost of goods to clients. China was still around 30% less so it did nothing to shift production domestically.
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Nick
@FiskQuaid
Tariffs are about as bad as income taxes. A land tax would be better. Cons: Higher prices Not progressive Punishes trading internationally Pros: Better wages and local jobs Increased supply security Doesn't punish work
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David Wall
@DavidWallPNW
Tariffs, outside of a poor country starting a new industry, is an admission that your country is a loser, can't compete, and thinks government force is a solution, not the founding problem of tyranny and forced unity.
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(((ATerranova)))
@ATerranova1705
This is a legit discussion to have and I get both sides of the issue but I laugh thinking about how the other side just indicted DJT again today. So while we are having tea and sitting in our country clubs discussing this they are bringing guns to knife fights.
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lynno
@lynno15
The cost to use a laundry mat machine also when up and appears will never go down. Everyone continues to pay the tax for this tariff.
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A M H
@AMWHMe
Since Trump's plan is to replace income tax with tarriffs, it would be best to compare the two to determine whether Americans would pay more.
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Emma Wright
@Piper_O_Brien
That is understood. That is the point: The higher prices by US producers allow them to pay workers more and have better enviro standards. That is the point of raising tariffs.
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Snabbkassa
@snabbkassa
Americans pay 11K each just for healthcare and Britons only pay 3.8K each. So Americans must LIKE overpaying.
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🇺🇸Truth Teller🇺🇸
@truthteller_x1
So what’s your suggestion then, how should we handle the fact that China will overproduce and flood our markets with their goods? This will allow them to keep their people employed at the same time as they shut down our domestic industry.
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