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No shit.
This is literally in the first paragraph of every economics textbook when they talk about tariffs.
Donald Trump didn't win the Presidency by reading textbooks.
How do you get by in life without reading? I mean, don’t you have to know what the symbols on clocks mean to tell time?
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And you don't need a textbook to understand how the very basics of business work. You know, the thing people seem convinced he understands? A fucking toddler has more knowledge than Trump. The United States of America doesn't have two brain cells to rub together
They heard lower taxes, and simply misunderstood that tariffs are another form of taxation.
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It's a certainty, not a fucking "likelihood'. That's how they work.
I feel like no one bothered to campaign against Trump.... until... AFTER he won
But the question is, will American manufacturing make up for the costs? Or, will American manufacturing just raise their prices to match the tariffs and lump the profits into their executive bonuses. They deserve it after all for being smart enough to raise prices.
I think we know
American manufacturing CAN'T, it would take years, decades honestly, to get back the capacity to make all the crap we've outsourced to other countries.
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Everything he will do contributes to anger, division and the collapse of the United States.
It doesn't even matter:
https://www.axios.com/2024/11/18/consumer-confidence-trump-republicans-white-house
Turns out, a lot of consumer mood is literally just people's social media feeds. Even if prices go up and QoL goes down, on average, consumers might feel better simply because Trump being in office makes them feel good.
I am not going to point out how monumentally problematic this is... Nope. There's definitely no bad precedent for that.
No shit.
They voted for nonsense looks like they are getting nonsense.
How will they call the new inflation and how are they going to pin this on not Trump. Curious how this is going to play out.
So nice of them to say this after the orange fuck was elected. Heaven forbid they tell their customers that when their customers could actually do something about it.
What incentive do they have to tell people that ahead of time? Instead of propping up the prices by 10% to deal with the tariff they can increase it by 20% and pocket the extra, then blame it on China. Worked during the Covid inflation, why wouldn't it work now?
100% guarantee price raises across the board, even for stuff not affected by tarrifs/mass deportation labor shortages.
It'll be covid all over again, an excuse to price gouge the fuck out of those who can least afford it.
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China will pay for the tariffs in the same way Mexico paid for the wall.
Cry more. Americans chose Trump with eyes wide open and deserve everything that's coming to them.
The I voted for him for cheaper eggs crowd are about to call this fake news.
Yeah, I mean I knew that, you knew that, Americans are so uneducated that the majority had no idea how basic economics work.
Well FAFO, we're all going to learn the hard way I guess.
Don't worry, at least Americans are, on average, in possession of endless piles of extra money after the last decade. Elon says it's time for all of us to tighten our belts. We're just so fat with all that money we've all been saving!
I'm so glad he and the other rich chucklefucks trickled so hard on us.
That's how it works. Imported products will be much expensive and local products will be able to compete and people will buy them instead of the ones coming from China.
That is the theory, but are there local products for the things that the US is importing? I don't think so. Also local companies may just align their prices with the imported stuff.
If the eggs situation told us anything, US companies will just jump at the opportunity to raise their prices, then pat themselves on the back for record profits
Ah, nice to see Lemmy wholeheartedly embracing our friend and source of truth, Walmart.
Tomorrow's headline: "Amazon says worker conditions will be bad because of Trump"
"Walmart recorded $169.6 billion in total revenue during the third quarter of 2024, up 5.5% from the previous quarter. It recorded a 7.8% return on assets and had an operating income of $6.7 billion."
This sounds like a statement to pretend the increase of prices is Trump fault instead of an attempt to maintain their growth.
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Pretty sure everyone was told this before the election.
Problem:
"Harris outperformed Biden’s 2020 numbers among white voters with college degrees. Meanwhile, exit polling from NBC News gave Republicans a 9-point gain with voters who never attended college."
'I love the poorly educated', donald j trump, feb 2016.
Thing is, basic economics is a high school subject, except:
"Sir, when am I going to have to know how tariffs work in the real world?"
Hmm maybe my highschool was far below average then
You had econ in HS? Mine had it but it was only an elective.
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Gonna be real neat watching Republicans turn on corporate America and accusing them of price gouging when (for once) they're not.
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this post was submitted on 23 Nov 2024
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