Trump announces new 10% tariff on another $300B worth of Chinese goods
I'm going to say this again: Trump is taxing Americans to death. I hope Americans and Trump supporters realize that tariff is just another word for TAX, paid by Americans collected by their government. Since the Chinese Tariffs Trump is forcing on American importers who will pass the cost down to American consumers as higher prices affects 70 PERCENT OF ALL CONSUMER GOODS then household expenses are going to skyrocket. With over 40 million Americans already living in poverty (more than the entire population of Canada) I see a disaster in the making. Trump doesn't care though.
You only have to pay it if you support China by buying communist made trash.
Untrue. Generally US companies raise their prices to match the higher prices that foreign companies are forced to charge.
"When economists at the University of Chicago and the Federal Reserve studied the 2018 duty on washing machines, they found the expected rise in retail prices from foreign manufacturers such as Samsung and LG. Surprisingly, though, these brands also increased dryer prices. Then domestic manufacturers followed suit, simply because they could.
All told, the research shows, U.S. consumers are spending an additional $1.5 billion a year on washers and dryers as a result of the tariffs. That’s an extra $86 for each washing machine and $92 for each dryer, the authors estimate."
Washing machine tariffs cost consumers $815,000 for every job created