Tariffs Suck

Tariffs are taxes. A tariff is a tax that citizens pay to purchase things that come from other countries. When a citizen demands a product, like a t-shirt, they want to pay the lowest possible price for the t-shirt. There are things that interfere with price stability, like wages, inflation, material shortages and tariffs.

Price stability is important for consumers because it allows us to make a plan now about some costs projected for the future. A tariff introduces price uncertainty. This past week of tariffs no tariffs, and tariffs and no tariffs, illustrate the harmful nature of saying the word. And there is plenty of history that shows us the harmful nature of actually implementing tariffs on our residents. Why would you think that the other country would not retaliate? And now, guess what, residents of both countries are paying higher prices. It really makes no sense. And there is evidence of the nonsense.

The United-States has had a recent trade war with China in 2018. The U.S. (Trump) imposed tariffs on Chinese goods, and China retaliated with tariffs on U.S. exports. Just like all the textbooks indicate. This led to disruptions in global supply chains, increased costs for businesses, and residents of both countries, and a decline in trade volumes. The U.S. manufacturing sector experienced a slowdown, and farmers faced significant losses due to reduced exports.

There is substantial evidence of farming losses during the previous Trump-China trade war that began in 2018. Retaliatory tariffs imposed by China on U.S. agricultural products, particularly soybeans, led to significant declines in exports. Farmers faced steep losses, with estimates suggesting a $27 billion hit to U.S. agriculture exports between mid-2018 and the end of 2019. Soybean prices dropped, and US farmer's domestic inventories ballooned as demand from China shrank. Just like the textbooks say.

The impact of a tariff is a price increase. When prices go up, consumption comes down. and what did Trump lie about during his campaign regarding inflation, "Among my very highest priorities is to rescue our economy and get dramatic and immediate relief to working families." And now Trump and his billionaire kakistocracy have convinced tens of millions of Americans that tariffs are not taxes and that the inflation caused by a tariff will have no impact on our ability to consume everyday household products. Trump voters must be super stupid.  

I think most Americans can look at a chart of the stock market for the past 6 months and come to the conclusion that the Trump billionaire kakistocracy is indeed a reflection of misdirected and uninformed economic policy. Thats a 7 trillion-dollar loss!

And how is it that after the previous economic catastrophe that Trump led was somehow forgotten by the millions of Trump voters? It's really super stupid. Just remember the billionaires became billionaires because of our past policies, and our great nation. Why are they trying to destroy it for everyone else?