At some level, it would cut into Chinese profit margins. Over time, it would encourage producers in Asia and likely Mexico to compete in those sectors.Do you have a background in business with some university-level economics?
I am curious, is Trump correct when he tells his maga base that CHINA will be paying the US oooodles and oooooodles of tax money because of his imposed tariffs? Is this how tariffs work, the country the tariff is imposed on pays all the taxes to the country imposing the tariff.
There is a very simple economic rule that many people (and politicians) often ignore. If you want less of something, tax it. In this case, we want less Chinese exports into the U.S.
So in short, China and U.S. consumers would both pay the tariffs.
I think this is one of these not so great counterarguments that seems to get lost in the emotions against Trump. The European Union is contemplating tariffs against China. I believe the Biden Administration left many or all of Trump's previous tariffs in place.
I know one powerful group that opposes tariffs..........Wall Street. Believe me, they have a lot of highly-paid economists on staff to back up their POV.
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