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Southern Nevada desert | The lie being fed by those currently in power is that the US is some paragon of virtue with low tariffs on incoming goods while being cheated by high tariffs on our own goods going out. In most cases our overall total tariff load is not significantly lower than those we do business with, check out the US tariffs on imported trucks and cargo vans, sugar, shoes, clothing, all ranging from 15% to 40% in some cases. Canada actually has a lower total tariffs on US goods Than we do on Canadian goods.
Tariffs are nothing more than crony politics, those in power using their power to pick winners and losers, slap on steel tariffs and the steel producers are winners, every single manufacturer and every single consumer is a loser paying inflated prices every day. It makes the trade deficit worse because domestic producers in the export market are now saddled with not only paying the the inflated prices directly from the tariffs but also inflated farther from an artificial shortage created by the reduced imports. The end result is bad for everybody.
By the way, the "struggling american steel industry" was just more fake news from the propaganda ministry, they posted the most profit in years before the tariffs and most if not all of the plant openings were actually known BEFORE the tariffs were announced. | |
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Tariffs
