“Tariffs promote domestic industries and have nothing to do with wages. Tariffs are also a source of revenue based on consumption as opposed to the income tax. Tariffs also are uses as retaliation to closed markets, which describe almost all foreign markets.”
Plus they raise the cost of living by raising the cost of imported goods. Are you saying the cost of living will go up and wages will stay the same? Why is this recipe for a deteriorating standard of living a good thing?
I would say someone has to pay for the unemployment costs of idling our manufacturing work force.
But no the cost differential between slave wage products and the cost of US workers goes to the stock holders. So hopefully the tariff will just negate that. So the increase will be negligible.