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this post was submitted on 30 Nov 2024
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That's not how it works. Other products will also become more exspensive as a result. The competitors will not hold back on the prices.
That's a different topic with various factors involved... But generally pricing someone out can keep a competitor off shelves. Most companies want to secure marketshare.
This is not the same as what happened during covid, which effected the whole of the domestic market at once. Obviously tariffs on specific importants is a different effect than that.
No, that's the point. Both the less exspensive and the exspensive products will go up in price because of this. Just look at what happened with washing machines under Trumps first period. They went way up in price and drying machines did also go up in price. This will happen to most products in general if these tolls will be implemented. China will never pay for these tarrifs and the consumers will be the ones that has to.
China pays in the form of making less sales/exports.
....and no, prices of Cars can't be blamed on tariffs on washing machines. Nor can market rules be derived from "what happened under Trump". COVID global supply shortages also happened under Trump.