Most importers, in anticipation of Trump's tax hikes, frontloaded their import orders before those tariffs could kick in. This has resulted in a short-term delay in the cost of those tax hikes being passed on to all of us.
Now their frontloaded imports are depleted and they are suffering under the highest tax hike since 1933.
Sadly, the bulk of this massive tax hike fell on the middle class small businesses who are 97 percent of our importers.
And you, the consumer, are literally paying the price.
“The fact that PPI was stronger-than-expected and CPI has been relatively soft suggests that businesses are eating much of the tariff costs instead of passing them onto the consumer,” said Clark Geranen, chief market strategist at CalBay Investments. “Businesses may soon start to reverse course and start passing these costs to consumers.”
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May?
May soon reverse course?
They already have.
Any mom who is doing back-to-school shopping is already seeing higher prices for their children's school clothes because of Trump's tariffs.
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If you need a new washing machine or dishwasher, too late.
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Does baby need a new pair of shoes?
Too late.
Appliances, clothing, shoes, home furnishings, groceries.
All higher.
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If you have found yourself echoing Trump's bragging about tariff revenue, I hope you all realize that came out of YOUR pocket.
That's something which the MAGA cult just can't seem to get through their hivemind.
TARIFFS ARE TAXES ON AMERICANS.
New York liberal Democrat Donald Trump has burdened you with the highest import taxes since 1933.
1933. When another lying New York Democrat was in the White House.
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This is emptying your wallets and your purses, but thank GOD Trump gave himself and his cronies a tax break! They really needed it!
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"YEAHBUT BIDEN!"
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SQUIRREL!