What the rest of the world is essentially telling us is that they have some basic right to tariff our exports at rates much higher than we tariff them, and if we raise our tariffs (even to 1/2 of theirs) we're committing some grave economic crime on the world. What's worse is that many in this country think it's OK for the rest of the world to do this!
What the hell kind of world do we live in where we essentially let ourselves get screwed over and over again and do nothing about it? I'll tell you what kind of world, one where a few elitists destroy the country in their efforts to make themselves rich and politicians get kick backs to make themselves rich.
The result of the new tariffs will be one of two things, or a combination of things as some countries come to the table to negotiate:
1) If no one negotiates (not possible), the new tariffs will generate over $900 billion for the federal coffers as opposed to the current $75 billion, reducing our deficit by over $800 billion. There might be some price increases, but it will be noise and the importers will eat most of the tariffs to remain competitive with domestic production. Domestic production of goods and services will increase and we'll eventually import less, cutting into the tariff income but making up for it in domestic tax revenue. Supplemented by AI, there is NO reason why we can't make most of what we sell here for around the same price as making it in China and paying the freight cost.
2) If both sides lower their tariffs to some semblance of parity or eliminate them, then we win over the former situation with better ability to export.
Clue to the other countries. When your current tariffs and other requirements make exporting of American goods cost prohibitive and impossible, it really doesn't matter if you "retaliate" because 75% of 0 is the same as 40% of 0.
Also, the irony of all of this drips like molasses. The Country of Canada has purchased electronic billboards here in Atlanta telling us that "Tariffs increase the cost of your groceries" and "Tariffs increase the cost of your fuel". Funny, the when they retaliate and raise their tariffs, they don't seem to care too much about their citizen's grocery and fuel prices!
What the hell kind of world do we live in where we essentially let ourselves get screwed over and over again and do nothing about it? I'll tell you what kind of world, one where a few elitists destroy the country in their efforts to make themselves rich and politicians get kick backs to make themselves rich.
The result of the new tariffs will be one of two things, or a combination of things as some countries come to the table to negotiate:
1) If no one negotiates (not possible), the new tariffs will generate over $900 billion for the federal coffers as opposed to the current $75 billion, reducing our deficit by over $800 billion. There might be some price increases, but it will be noise and the importers will eat most of the tariffs to remain competitive with domestic production. Domestic production of goods and services will increase and we'll eventually import less, cutting into the tariff income but making up for it in domestic tax revenue. Supplemented by AI, there is NO reason why we can't make most of what we sell here for around the same price as making it in China and paying the freight cost.
2) If both sides lower their tariffs to some semblance of parity or eliminate them, then we win over the former situation with better ability to export.
Clue to the other countries. When your current tariffs and other requirements make exporting of American goods cost prohibitive and impossible, it really doesn't matter if you "retaliate" because 75% of 0 is the same as 40% of 0.
Also, the irony of all of this drips like molasses. The Country of Canada has purchased electronic billboards here in Atlanta telling us that "Tariffs increase the cost of your groceries" and "Tariffs increase the cost of your fuel". Funny, the when they retaliate and raise their tariffs, they don't seem to care too much about their citizen's grocery and fuel prices!
