I'm not sure. I know it's a tax on imported goods, but I'm not sure how they negotiate who pays for what. I am aware that US companies are the ones liable if it's not paid, though.
Tariffs are paid by the importer of record on the costs they pay for products. So, Target, WM, if they’re shipping in products from countries with applied tariffs, are paying that % on top of their costs, & then need to pass that % along to consumers to keep their shareholders happy.
Well, at least that %. It’s usually more because they want to maintain their profit margin %. So, if a widget cost $1 & retailed for $1.50 (50% gross margin), with a 25% tariff (current from China), the $1 cost gets to a $1.88 retail. Add 10%, & you’re up to ~$2.03 to hold 50%. As a simple example!
God I learned what tariffs were in seventh grade history class. I cannot believe so many people are only just now learning what they are and why they definitely do not work the way you think they do.
Probably more because people don't continue reading and learning once they leave the educational system. If you learn what a tariff is at age 16, then never think about them again, you're probably not going to remember what a tariff is at age 40.
Considering that the average Briton didn't even know how the European Union worked in 2016, I can believe that the average american doesn't know what they were voting on. Why don't people just do some basic research?
I saw a statistic recently that like 40% of the adult American population is functionally illiterate and I’m supposed to be mad at them when people take advantage of them after setting up systems that make them the biggest rubes on earth to be used as consent-manufacturing engines.
And they had no desire to learn about it, always shutting down facts. They choose to follow blindly, as cult members always do. They deserve to be shunned for their ignorance.
My EU friends were asking me whether or not Americans were concerned about this and I laughed out loud and said you have got to be kidding me. Do you think Americans still get civics class in high school??
I went to five high schools, but the 4th of them was a middle of the road small town school with a civics teacher who very quietly taught subversive, empowering civics and made sure we acquired good critical thinking. Years later she won a state award for the quality of her teaching.
pff - in so many schools she would have been fired, gotta love it :P
I had a US history teacher who spent the entire semester on the holocaust which was amazing, lectures, videos, and teaching how to evaluate the whole picture of a political complexity. a super important class to me!
In fairness I also did not know exactly how tariffs worked until Trump was proposing them but then I did this crazy thing where I learned about them. Crazy how that works.
Local man beat the nationwide average by learning something about a topic they previously did not understand. More of this inspiring story of american exceptionalism at 7. Now we turn to Bradley for the weather
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So yes, I can believe they don't know what a tariff is
We obviously need better systems for reducing their numbers, AND protecting the remaining from exploitation.
pff - in so many schools she would have been fired, gotta love it :P
I had a US history teacher who spent the entire semester on the holocaust which was amazing, lectures, videos, and teaching how to evaluate the whole picture of a political complexity. a super important class to me!
but fafo
Words can hurt you know.
But you're not really getting any help, are you?
And we all know what can't be done with a sow's ear.....