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If Trump implements his proposed tariffs of 10 / 20 % on all countries and 60% extra on China, consumers would lose $90 billion in purchasing power.
by geekinchief 2y ago
If Trump implements his proposed tariffs of 10 / 20 % on all countries and 60% extra on China, consumers would lose $90 billion in purchasing power.
- AnimalMuppet 2y agoWhat about second-order effects? If Trump does these tariffs, then other countries are likely to do the same to US exports. If that happens, how much do Americans lose in earning power? Has anyone done that analysis?
- rsynnott 2y agoThat’s just the start of it. There is approximately no significant manufacturing enterprise anywhere in the developed world which does not use at least some foreign imports or equipment. Prices for domestically produced goods would also rise, significantly. The US would also face retaliatory tariffs.