Re: The Inauguration, & U.S. President Donald Trump's First 100 Days in Office
Reply #73 –
Awww, can't answer the basic economic arguments can you?
But you wanted a quote? Okay, how about the liberal media source Foxnews , instead.
WASHINGTON – American consumers and businesses would pay — literally — if President-elect Donald Trump followed through on his campaign pledge to slap big taxes on imports from China and Mexico.
Trump said during the campaign that he'd impose tariffs of 35 percent on Mexican imports and 45 percent on Chinese imports to protect American jobs from unfair foreign competition. Companies that import those goods would pay the tax at the border.
Many of those firms would likely try to heap as much of the cost as possible on their customers. The result is that American consumers could end up paying more for foreign-made clothing, tablet computers and other electronics.
A 45 percent tariff on Chinese-made goods could drive up U.S. retail prices on those goods by an average of about 10 percent, Capital Economics has calculated. Consumers would find it hard to escape the price squeeze.
"There are few alternative sources for the main products the U.S. buys from China," says Mark Williams, Capital Economics' chief Asia economist. He notes, for example, that China supplies about 70 percent of the world's network equipment, cellphones, laptops and tablet computer
The article doesn't address foods that simply can't be grown in the US year around. Do you still not get it? This isn't even a liberal vs conservative issue anymore. This is about 45's "policies", if enacted, have great potential to trash the American economy. That is to the extent that he even knows what his own policies even are, because he still acts like he doesn't :p