The train wreck is coming. Today marks a pivotal moment. Trump's tariffs are coming into effect, and the repercussions will transform lives and livelihoods.
Today marks a pivotal moment. Trump's tariffs are coming into effect, and the repercussions will transform lives and livelihoods.
INTRODUCTION
Today, the Trump administration introduces broad-ranging tariffs: 25% on goods from Canada and Mexico and 10% on imports from China.
The rationale behind these tariffs is rooted in Trump’s lies that they will bolster American manufacturing, balance trade, and are paid for by other countries.
This is a pack of lies with serious consequences. The tariffs will raise the prices of every day goods for every person in the US. The positive impact on US manufacturing is a wish at best, and there are many interconnected issues regarding why there are trade imbalances.
This article will explore Trump’s tariff plan and its impact on everyone.
TRUMP’S TARIFFS BUILT ON A PACK OF LIES
President Trump's tariffs on Canada, Mexico, and China are based on a pack of lies. There is simply no other explanation than Trump has cornered himself, linking these tariffs to his border plan with the flawed assertion that they will not impact the cost of living in the US, that they will protect US citizens from fentanyl, and that they will bring production back to America, making America great again.
Trump's assertions to support the introduction of the tariffs are demonstrably false.
It ignores the significant domestic production of this opioid within the United States. Tariffs will not stop the shipments across the borders or the manufacturing in the United States.
The assertion that Canada, Mexico, and China will bear the tariffs is false. Everyone in the United States will shoulder these costs, raising the cost of living for all. If you thought expenses were steep yesterday, wait for today and tomorrow.
This will force companies to move manufacturing to the United States. This ignores the years of building manufacturing and supply chains worldwide, which is a complex issue. One cannot just “flick a switch” and have it magically happen. It also ignores the negative impacts of retaliation.
Retaliatory tariffs from Canada, Mexico, and China will adversely affect US export sectors and the manufacturing jobs that depend on foreign markets. The effectiveness of tariffs in enhancing domestic manufacturing hinges on various factors, including the specific industry, global market conditions, and the repercussions of retaliation from trading partners. This is a highly complex issue with significant risks.
WHAT HAPPENED IN 2018?
Do you remember what happened to the agriculture sector in 2018 when Trump and China got into a tariff tit-for-tat? The 2018 US-China trade war significantly impacted the US agriculture sector. China, a major buyer of US soybeans, imposed retaliatory tariffs, leading to a sharp decline in exports and significantly lower prices for American farmers. Many farmers faced financial hardship, with some forced to sell land or declare bankruptcy. The retaliatory tariffs by China delivered a severe blow to the agriculture sector, underscoring the significant consequences of trade wars on domestic production.
Is there no learning from history from only seven years ago? Don’t believe me? Type the following into your search bar and read for yourself; “what happened to the US agriculture sector with the retaliatory tariffs in 2018?”
CONCLUSION
Trump has sold MAGA a “bill of goods” that tariffs will not raise the price of goods, force companies to bring their manufacturing to the United States and will stop fentanyl into the United States.
The complex interplay of global trade renders simplistic solutions ineffective and potentially catastrophic. This "bill of goods" sold to the American public ignores the realities of international trade and the real consequences for American consumers and industries.
This risky gamble with tariffs threatens to compromise the US economy and its position in the global community. Moreover, the cost of living for everyone in the United States is set to rise. With the train wreck coming, it will be a sad day for all.
Openyourojos and all those who voted for Trump, is this what you voted for? Are you happy?
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