“Tariffs are on IMPORTS.”
Durrr. I myself reference that several times in my comment, but I guess you have some reading comprehension issues.
“So once again for possible cranial penetration; the duty only applies to imports that you buy. Don’t buy, don’t pay.”
Are you really that dense? Or do you just not realize that manufacturing in the US has been completely gutted over the last few decades? Where are you going to buy a domestically manufactured smartphone so you don’t have to pay the tariff? They do not exist. There are whole categories of goods like that for which the prices will just instantly go up 20%, to be paid by the consumer.
“Yes that is GOOD thing!!!”
Not if your goal is to make revenue to pay down the debt. Reduced imports = reduced tariff collections = shortfall in your projected revenue = your plan doesn’t work.
The purpose of the tariff is to ARTIFICIALLY inflate the price of imported goods. This is a good thing for two reason.
Lets say the margin are too low to make a product in the USA when compared to using virtual coolie slaves in China. Labor is a small part of the cost of production in modern up to date factories. Labor costs PER UNIT is around 6% in the USA and around 2% in China. The main exception to that is textiles. With that exception in mind, 99% of things we buy are not labor intensive to make, even if made in the USA. It doesn't take much of an incentive to bring the jobs back. A 20% tariff is more than enough.
Now about factories. China had no modern factories in 1980, and the ones they had made non commercial products. So how do they advance so fast? Well THEY BUILT THEM! DUH! Yes, it take a year or more to build a factory in the USA, which in itself an economic stimulus creating a plethora of construction jobs, but the wait is well worth it. The second reason is simply a tariff raises revenue, reduces the budget deficit and reduces the trade deficit.
Where are you going to buy a domestically manufactured smartphone so you don’t have to pay the tariff?
You will buy the 20% tariff-ed import until the factories are completed in the USA. It will take a year or two. It took 30 years for Free Traitors™ like you to F us over so, a few years is not too long to wait. Agree?
If it were up me we should send the USA's economists to Europe and Asia to get reeducated on how to protect and grow domestic industry.