Well, Trump always mispoke the truth of the matter. He repeatedly told us that China payed the tariffs.
Tariffs are collected from importers by US Customs. The amunt of the tariff is included in varius costs of sale and thus paid by the ultimate retail purchasers.
China did not actually pay the tariffs but rather lowered prices in various ways such that prices in America did not rise substantially.
“Well, Trump always mispoke the truth of the matter. He repeatedly told us that China payed the tariffs.”
If the prices for the items didn’t go up, but our government collected higher import duties...well, that money to our government likely did come from somewhere, as in China.
By the way, do you still believe that Trump colluded with Russia?
Lol.
Yellen is an idiot. The Tariffs were the only way to protect American manufacturing. That protection results in: stronger supply chain, safer national
Security, more rebuts economy, the possibility of using supply side economics, and downstream economy.
Or……..you can continue to print money and throw it out there until everything collapses…….
Econ 101 has worked so well for us... until it failed. Just In Time saved us all money until the lockdowns cratered supply lines. The race to the bottom for the cheapest supplier worked so well until we found metamine in our dog food. Free trade worked so well until we found out China's military equipment looks a lot like ours.
We have the geography and demography to be a successful mercantilist nation. Higher prices yes, but also higher wages and no money going to the imprisoners of the Uighurs, Falun Gong, etc.
When Adam Smith wrote that countries should focus on producing those things that they were best at, I don't think he was envisioning countries being "best at" producing things by merely being cheapest via slave labor and ecological devastation.
With the invention of AC and central heating it is now possible to manufacture any good and supply many services from anywhere on Earth. The only differentiators are lower labor costs and fewer regulations to protect the workers and environment. The only things that differentiates one country from another are natural resources and crop lands. But we are told by the Econ 101 crowd that those nations whose economies depend on natural resources are at the bottom of the totem pole.
When all of the manufacturing, finance, and service economy works its way to Nigeria and America is only left with coal, oil, minerals, and produce it will be Americans living in mud huts and scrounging in trash heaps.
The problems in this country are due to idiots like you. The tariffs are not about the cost to the consumer, they are all about bringing manufacturing back to America. If you just want cheap china shit, go to harbor freight.