And how much are you willing to pay for your iPhone ?
Tariffs equal higher costs to consumers.
Tariffs (just like the minimum wage ) will hurt the job market.
Tariffs equal more capitalist cronyism.
Politicians love tariffs (bribes, extortion) until the Crash comes.
It was the Smoot-Hawley Tariff Act of 1930 (which brought the U.S. tariff to its highest in history ) that prolonged the Great Depression.
Thats what is wrong with tariffs.
How do you compete with almost free labour then? Free trade doesn’t work.