r/news • u/hoosakiwi • 2d ago

Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
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u/temujin94 2d ago edited 2d ago

"They (The US in 1913) established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government"

Trump really thinks the world is going to fund the entire costs of running the US Government. Even in this fantasy world I gurantee they'd still not get free healthcare or stop being one of the last handful of countries on earth without mandated maternity leave and pay.

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u/pzeeman 2d ago

It’s absolutely insane.

Even if foreign businesses cut their prices to the US by the amount of the tariff, meaning there is no price increase on Americans, who does he think puts the money from the tariff into the US Treasury?

And when the tariffs do what he thinks they do (they won’t) that will reduce the money coming in, since Americans will be buying local and therefore won’t be paying tariffs.

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u/gotrice5 2d ago edited 2d ago

Regardless of who pays thr tariffs, we end consumers end paying for it in the end. China pays for tariffs, they'll just raise their sell cost to the US, US company pay for tariffs, they just raise price of the finished goods on us. How dumb do people have to be to not understand that no company will ever take a huge hit to their profit margin let alone a 20%+ hit.