Tariffs don't, AFAIK, create inflation. Tariffs simply raise the price you and I pay for iPads and iPhones and such. Our standard of living goes down immediately when tariffs are imposed.
So who benefits from tariffs?
The U.S. Federal Government - Increased tax revenue.
Any U.S. company that gets to raise it's prices due to the reduced competition.
Who loses from tariffs?
You and me an every American consumer.
So what is the argument in favor of tariffs?
Long term growth in employment in the U.S.
More happy Freepers.
My problem is that I just don't buy the employment growth argument and the short term and (I believe) the long term loss of buying power for Americans will be the reality.
But I'm open to some proof that I'm wrong. Freepers who agree with Bernie Sanders and Donald Trump on trade and tariffs should present their PROOF that these guys are right. I haven't seen it. But I'm very, very patient.
Who is "our"? If Apple opens a new production facility in the USA and employees a 1000 people does their standard of living going down? If the trade deficits and federal deficits are zeroed out thru tariff revenue and interests rates naturally go up then do savers benefit? Your myopic arguments ring hollow.
In case you didn't know the definition of inflation is " too many dollars chasing to few goods".
Proof: Look at China, behind a wall of protectionism they went form dung burning rice peasants to an industrial power in 40 years. How much more proof do you want?