Tariffs are taxes; we pay them. They raise prices. That causes fewer sales of American goods, less American production, and job loss.
Now, the argument is made that the tariffs will only drive up the prices of foreign goods. Maybe, but let’s say we drive the price of foreign goods up 10%. American producers will take advantage of that and raise prices 8% so they’s still slightly under the foreign price.
When the price of the whole product sector increases, sales of that product sector go down, unless it’s a must-buy like gasoline. Even then, if you drive less, you buy less gas.
So you’re rally not protecting anyone except the wealthy Establishment.
“Now, the argument is made that the tariffs will only drive up the prices of foreign goods. Maybe, but let’s say we drive the price of foreign goods up 10%. American producers will take advantage of that and raise prices 8% so they are still slightly under the foreign price.”
That is exactly what happens. This is why car tires cost $200-$300 each. Obama put a tariff on imported tires because the Steel Worker’s union bitched about not being able to sell U.S. tires. It was meant to be more competitive and close the gap in prices. But as soon as the tariff prices got closer the U.S. companies jacked up their prices back to the same difference it was before. They took advantage of the situation to price gouge rather than “More competitive pricing”.
As for Vance? Just look at those he is loyal to and associates with. They are all big tech and Globalist Democrats hell bent on digital enslaving us into the One World Order.