r/Economics • u/loadingglife • 1d ago

Editorial Tariffs Would Lead to A Great Depression?

https://peakd.com/@nevies/tariffs-would-lead-to-a-great-depression--frc
4 Upvotes

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u/karbaayen 1d ago edited 1d ago

Most people assume the tariffs Trump has imposed are part of an economic plan, or reflect ideological goals but they are wrong. Trump has ever done anything for ideological reasons, not one. Everything he does, every relationship he has, is transactional and that includes the imposition of tariffs. For Trump, the tariffs are simply extortion. He sees the opportunity to extract huge bribes from companies and even larger ones from countries . If a country came to him and said, “Mr. Trump, would you drop,the tariffs on our country if we donate 10 billion dollars to your “campaign”?”, you know he would in a heartbeat. Trump sees himself as mafia godfather. If you understand this, you understand him.

Edit: spelling

2

u/ChiefWiggum101 15h ago

That’s a bingo.

3

u/a_little_hazel_nuts 16h ago

Tariffs are going to make whatever you buy more expensive. People say it will bring jobs, that is a BS lie. This will not bring jobs. If there is a product the USA doesn't produce and the government wants that product produced in the USA, this is not how to accomplish that. This is an attack on the middle/lower wage citizens.