If that is true, then why do countries so zealously tax American imports coming into their countries when we don’t tax their imports coming into ours?
Isn’t that why Walmart thrives? I believe in low prices and if we put a tariff on imports, our low prices go out the window. As a retiree I must shop low prices.
Trade imbalances drive up prices too, as one currency strengthens and the other falls. China handles this problem by buying our government bonds which funds socialism and big government here. Wow, what trade.
As a retiree how many steel products are you buying? How much food and pharmaceuticals are you buying from China? A trade war won't impact retirees much. The trouble is worth it because eventually it will create more jobs for young people that will fund Social Security payments.
“Isn’t that why Walmart thrives?”
No. Walmart is a discount house. Most consumer items are made overseas. Walmart just sells them cheaper.