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This will lead to inflation. Once prices increase, the prices won't come down, so the inflation will be permanent. US manufacturers will get used to decreased
by breadwinner 1y ago
This will lead to inflation. Once prices increase, the prices won't come down, so the inflation will be permanent.
US manufacturers will get used to decreased competition, which will lead to poor quality and decreased innovation.
Smuggling will increase, particularly from Canada. Instead of going to the Apple store to buy your next phone you will agree to meet a stranger in a dark alley and pay cash to buy a smuggled iPhone.
The tariffs will be felt by poorer Americans while the rich will barely notice.
- pzo 1y agoProbsbly better to once a year go to Latin America or Asia for holiday and do all shopping there and any clinic appointments
- mensetmanusman 1y agoIf the government taxes goods by an additional 1%, is that 1% inflation?
- breadwinner 1y agoIf the price goes up then yes.
- tnt128 1y agoNo. Tax is on the cost. If the good sells for $100 and cost $10. Then 10% additional tax increase the cost to $11. If the vendor decides to keep the same profit, then the price goes up by $1, which is 1%
- tempera 1y ago[dead]