HiramAbif

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HiramAbif
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  • iPhone 17 Pro predicted to cost over $2000 because of Trump tariffs

    HiramAbifHiramAbif
    Wesley Hilliard said:
    slickdealer said:
    The most likely scenario remains that China lowers tariffs on US goods and our reciprocal tariffs automatically adjust.  

    Why all of these articles fail to mention how reciprocal tariffs work baffles me. 
    It seems you are the one that doesn't understand how tariffs work. The tariffs enacted by the Trump administration were calculated using the trade deficit divided by the exports. That's not how you determine what China's tariffs are on US goods.

    China's original rate was less than 5%, but now they've got no choice but to respond to the US tariffs. The only way prices go down on imported goods is if the US lowers tariffs, not China.

    All tariffs are a tax on the country that imposes the tariffs. It is basic economics. The US government tried to impose tariffs in the 1930s to save the economy, but spoiler! It failed and led to the great depression.
    You go from "it seems like you are the one that doesn't understand how tariffs work" to writing false statements of tariffs creating the great depression and alluding to them only being tried in the 1930s.  

    The great depression was NOT caused by tariffs, and in fact tariffs have been utilized since the country's founding, and accounted for up to 95% of the revenue to the government up until the income tax was created in the early 20th century. 
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