Among the many brainless, harmful proposals from the Malignant Loser is his plan to impose punishing tariffs on imports, a move that cost cost the U.S. billions of dollars when he imposed them during his regime. His vile, suggestive language about a "bloodbath" was attached to a threat to impose a 100% tariff on car imports. Of course, tariffs trigger counter moves on the part of the nations and industries impacted, meaning the U.S.'s agricultural products, for example, would face restrictive export tariffs imposted by the aggrieved country and hurt their export market. CNN's Katie Lobosco has the story:
"When former President Donald Trump was in the White House, he proudly referred to himself as a 'Tariff Man' – and he has no intention of retiring that self-proclaimed title if reelected.
Trump has repeatedly floated the idea of imposing a 10% tariff on every good coming into the US, as well as a tariff upward of 60% on all Chinese imports if he regains the presidency. On Saturday, during a campaign rally, he promised a “100% tariff” on cars made outside the US and warned of a “bloodbath” for the American auto industry if he doesn’t get reelected. [snip]
Americans have paid more than $230 billion to date for tariffs that Trump imposed on imported solar panels, steel and aluminum and Chinese-made goods, according to US Customs and Border Protection. More than half of the duties have been collected during the Biden administration.
Despite the cost, Trump’s tariffs were a political success, according to one working paper published recently by economic researchers.
'Residents of regions more exposed to import tariffs became less likely to identify as Democrats, more likely to vote to reelect Donald Trump in 2020, and more likely to elect Republicans to Congress,' they wrote." (our emphasis)
Always expect the MAGAts to go for their self-interest and not the nation's. It also reflects their inbred xenophobia and racism. Lobosco continues:
"The protection provided by tariffs typically comes with some trade-offs. Here’s how Trump-era trade policies have impacted the economy.
When the US puts a tariff on an imported good, the cost of the tariff comes directly out of the bank account of an American importer when the foreign-made product arrives at the port.
It’s possible that some foreign manufacturers lowered their prices to stay competitive in the US market. But several studies have suggested that US companies and consumers are bearing the brunt of the tariff cost." (our emphasis)
The Malignant Loser shoveled billions of taxpayer money in the form of direct aid to the U.S. industries (mainly agriculture) that were the targets of retaliatory tariffs by foreign nations, another "tax" that could have been avoided. But it's all about transactions with the Malignant Loser, who made sure his family got favored treatment before tariffs were imposed.
(photo: "Thank you for the trademarks for Ivanka." AFP)
