Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.
That’s how it works. Imported products will be much expensive and local products will be able to compete and people will buy them instead of the ones coming from China.
That is the theory, but are there local products for the things that the US is importing? I don’t think so. Also local companies may just align their prices with the imported stuff.
If the eggs situation told us anything, US companies will just jump at the opportunity to raise their prices, then pat themselves on the back for record profits
That’s how it works. Imported products will be much expensive and local products will be able to compete and people will buy them instead of the ones coming from China.
That is the theory, but are there local products for the things that the US is importing? I don’t think so. Also local companies may just align their prices with the imported stuff.
If the eggs situation told us anything, US companies will just jump at the opportunity to raise their prices, then pat themselves on the back for record profits