There is no evidence that countries and businesses will “primarily eat the tariff.”
Reposted from
Aaron Rupar
Lutnick: "We do expect a 10 percent baseline tariff to be in place for the foreseeable future ... what happens is the businesses and the countries primarily eat the tariff."
Comments
😡
UBI and Medicare for all would be helpful in this situation.
*American* businesses will inevitably pass this tax on to their customers as they do with all taxes.
The wide expectation of higher prices will feed a cycle of cost inflation through the pipeline.
And companies are famous for wanting to be less profitable.
If that guy could be more out of
touch, I don’t see how.
How do "the countries" eat a tax imposed after goods have left their shores? Is China going to write checks to every American importer every week? Is that what WE do for foreign tariffs?