A Tariff Here, A Tariff There
Everywhere a tariff
tRump signs a Presidential Order imposing reciprocal tariffs on all countries.
Just what the U.S. needs in the face of a slowing economy and workforce.
tRump admitted during a news conference today that reciprocal tariffs will likely increase the cost of living in the U.S. “It may be a little painful, but not for long, not for a long time”. Painful for who? You or your mega-billionaire administration? Or for the rest of us? I call bullshit.
During the campaigns, rational voters understood that tRump’s promises of lower cost of living, lower food prices, and lower gas prices, were lies.
Here’s why reciprocal tariffs will increase your cost of living, and decrease the expendable cash you enjoy:
1. Higher prices on imported goods. Many everyday products including electronics, clothing, and food are imported. When tariffs are imposed the importers will pass those costs onto the consumers, YOU.
2. Increased cost for businesses. Many U.S. companies rely on impoted materials/components. Tariffs raise their costs and will pass those costs onto consumers, YOU.
3. Retaliatory tariffs. Other countries will impose their own tariffs on our exports, making U.S. goods more expensive overseas. This will hurt our industries like agriculture (think farmers), manufacturing, which leads to job losses and stagnated wages.
4. Reduced Competition. When foreign goods become more expensive, our companies will feel less pressure to keep prices competitive, leading to overall price increases.
And give this a thought. Employers will be able to lower wages. There will be fewer jobs and more job seekers eager to accept whatever they’re offered.
So, higher overall prices, a reduction in government aid programs, an increase in overall inflation and job losses, what more could a President and his administration want for their citizens? Don’t ask, there are several answers which I’ll go into at another time.
Stock up on eggs people, it ain’t getting better.