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So all goods. Care to explain how it will affect all goods including domestic goods?
by kcplate 2y ago
So all goods. Care to explain how it will affect all goods including domestic goods?
- eterps 2y agoNot all goods will be affected equally, but it would be hard to imagine production costs would not increase on domestic goods. Also reduced competition might lead to overall higher prices.
- ben_w 2y agoYour domestically produced food was grown with engines powered by oil bought from abroad, because the stuff the US gets out of the ground isn't right for the US refineries: https://www.marketplace.org/2024/05/13/the-u-s-exports-more-petroleum-than-it-imports-so-why-are-we-importing-at-all/ https://www.marketplace.org/2024/05/13/the-u-s-exports-more-... Likewise, the US imports fertiliser: https://tradingeconomics.com/united-states/imports/fertilizers https://tradingeconomics.com/united-states/imports/fertilize... Several critical minerals just aren't mined at all in the USA, they have to be imported. Anything that needs those to be produced, just got more expensive, regardless of where the factory is. Your domestically produced cars were made from imported parts, sometimes with multiple border crossings. Your domestically produced big tech runs on servers with many imported components.