They absolutely will. Our lives just got ridiculously expensive. Willy nilly tariffs are not the answer. If he thinks that tariffs are going to suddenly make America the leader in coffee and banana production he is crazy. High school Econ students better understand how tariffs work.
Oh, they 100% are transferred to the consumers. But the government gets more, see. And the government can then use them for bigger tax breaks for the rich. That way, the rich get richer and the poor get poorer and that's the way they like it.
But it's not a direct tax, so yeah... Sigh.
Trump is not doing this to bring prosperity to the US.
He’s an angry old man, ready to bring retribution and all of the project 2025 and christo-fascists want to crash everything to prove that liberal democracy is a failure.
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But it's not a direct tax, so yeah... Sigh.
That’s the point.
What’s going to happen is that the lower / middle class just had the largest tax increase in history.
Stock markets will tank, businesses will fail.
The rich will swoop in on the fire sale, buy low, and benefit greatly.
He’s an angry old man, ready to bring retribution and all of the project 2025 and christo-fascists want to crash everything to prove that liberal democracy is a failure.
The goal is destruction.
I would expect if he doesn't backtrack within 6 months that the US would lose its reserve currency status.
The auto industry will be largely finished by the end of April.
It will take longer to move trade off the dollar.