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originally posted by: maddy21
Supply, Demand and affordability. Demand depends on the affordability
The Tariffs Will Affect Prices Of Everyday Items
The US is heavily reliant on foreign steel and aluminum for the production of everyday items. 90% of aluminum used in the US comes from other countries, while a third of steel used domestically is sourced from abroad. The tariffs will undoubtedly affect prices of everyday items.
Both metals are crucial raw material for autos, airplanes and appliances made in the United States. The construction, oil and utility industries use them for beams, pipelines and wires, as well as cans for food and drinks... The tariffs by themselves will probably make ordinary items produced with aluminum — think beer cans and baseball bats — more expensive, assuming the companies that make them decide to pass the cost of the tax on to customers. History shows that's generally what happens.
The Move Could Slow Growth And Jobs
The new tariffs may save some jobs in the US steel industry, but they are also likely to slow economic growth and eliminate jobs in industries that rely on steel and aluminum.
If other countries hit core U.S. industries such as aerospace, that would ding growth. American consumers, the driving force of the U.S. economy, could also get angry if prices of many items jump... the jobs saved in one industry could be offset by jobs lost in other industries if prices rise and buyers dry up for items such as cars. Former president Barack Obama put a tariff on Chinese tires in 2009, but it backfired, many economists say. Obama touted the 1,000 jobs saved, but the Peterson Institute says that more than 3,000 jobs were lost in other industries.
If the entire planet tries to gang up in a trade war with the US they will lose. Their economies will be hurt while the US economy will grow exponentially
If we stop importing something that Americans want it won't take 15 minutes for someone or several someones to come in and figure out how to supply the demand.
originally posted by: TheConstruKctionofLight
Tariff dont create jobs. In fact they usually have an inflationary effect and stifle growth
originally posted by: Metallicus
Personally, I won’t be missing any of my “Made in India” products. Retaliate away I will be just fine.
originally posted by: maddy21
At the same time it will also make everything else more expensive.
Some savings is good but Trillions of dollars sitting overseas being hoarder by the 1% is impacting inflation more than any impact fixing the trade deficit will have.
originally posted by: Subaeruginosa
a reply to: network dude
Yeah, that's kinda a logical theory, to rationalise Trumps recent irrational behaviour... His throwing the American people into the deep end, hoping they'll learn how to swim, before they drown.
Question is though... Do you personally think it'll work?