Trump does not understand tariffs except that he knows it will hurt other countries.
Some basics:
they are a tax on imports.
those who do the importing pay the tax
they then pass it on to consumers who buy the stuff.
goods from CA/Mex/PRC will get more expensive.
Oh, and countries will retaliate.
Some basics:
they are a tax on imports.
those who do the importing pay the tax
they then pass it on to consumers who buy the stuff.
goods from CA/Mex/PRC will get more expensive.
Oh, and countries will retaliate.
Comments
He is counting on his poorly educated supporters to miss this fact.
One step further, Canadian politicians will be punished by the electorate if they give in to bullying.
The import tariffs will increase price both side of border
European Commission chief Jean-Claude Juncker vowed to fight back against US President Donald Trump's threat of tariffs.
"So now we will also impose import tariffs. This is basically a stupid process. We can also do stupid."