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"Imagine you want to buy a toy at a store which costs $50. You pay for the toy and walk away with it. The President looks at that transaction and says ‘wait, yo
by billy99k 2y ago
"Imagine you want to buy a toy at a store which costs $50. You pay for the toy and walk away with it. The President looks at that transaction and says ‘wait, you paid the store $50 and the store paid you nothing, therefore the store is stealing from you. To “fix” this, I’m going to tax the store $25. From now on that same toy costs $75."
Incorrect. Imagine you want to buy a toy from the store in country X and because of where you live (the US), the store now charges you $75 instead of the $50 it normally costs for that item. This has been going on for decades.
A new president comes in and decides that if you are from country X and want to buy a toy from the US, you now have to pay the same inflated costs added to the item.
Country X now decides to charge the US $50 for that item and the US does the same. We both win.
Nobody seems to have critical thinking skills here. These tariffs will not be like this forever. In all likelihood, they will be gone within a month or two as these counties hammer out some better trade agreements.