Why Tariffs Won’t Save Manufacturing

Tariffs sound great… until you see the price tag

(via alexisanddean on TikTok)

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[chewygaming]

Over 50% of Americans think the guy who bankrupted multiple businesses has the best economic policy.

[NestlaysChaulkolateChips]

Don't forget that we've done tariffs before. And rather than US companies offering cheaper prices, they increase their prices to be at the same level of imported goods + tariffs. It ends up being way more expensive to the consumer.

[moken]

America needs to bring back economics and civics as mandatory subjects in high school!!!

[boomerbobable]

When my son wanted to run for School Treasurer in high school he asked me for advice. I have worked in senior positions on the strategy side for major US and international campaigns, so he thought I would have some sage advice.

I told him, if you want to win, you have to make unrealistic promises that make people think they are getting something for nothing. Promise them free ipads or free ice cream fridays. He thought I was crazy and people would know better. He put together a great speech and campaign on issues and competency, etc. He lost badly to a kid who promised, no joke, free ipads and ice cream Fridays.

[vultureculture]

We learned this in business class in high school, but the brain rot has just sunk too deep. People don't ask questions, they just accept short phrases like "build American" and "make America great" and don't think beyond that.

[hellhound]

He's saying all the concepts I knew in highschool yet these Republicans just can't grasp them

[enochboateng]

The fact that this has to be explained to a majority of Americans is a true failure of our education system.

[rwags]

BTW… 2:09 iPhones are made in China, Taiwan, Thailand, Vietnam, Philippines, Malaysia and Indonesia.
Try adding 20% tax (tariff) on those as well!
And we’re not talking yet about clothing, shoes, electronics, cameras, vehicles…

[OK-pifq]

Herbert Hoover tried this exact same thing to prevent the recession of Calvin Coolidge from getting worse. He thought that he would be promoting American products and therefore raising the economy. But the reason that the great depression is attributed to Hoover and not Coolidge is that, though it was Coolidge economy that created the recession, it was Hoovers tariffs that created the Great Depression. The cost-of-living went up dramatically, people could buy less and more jobs were lost because businesses went out of business they couldn’t sell. Making more people poor without jobs. If you’re gonna come up with an idea from the past, at least use one that was successful. There are many. High taxes on the Rich was very successful. Strong country wide unions was successful. Corporate regulations to prevent monopolies and bad ethics involving public money was very very successful. Together they created the American Dream. Let’s make America actually great again by bringing back those things. We have done everything we’re talking about, but we can see what worked, and is working around the world, just not doing any of it because the rich have taken control and are greedy to the point of a mental illness among the class.

[BlagoP]

Wait until retaliatory tariffs destroy American manufacturing.

[jlocey]

For anyone who missed this in economics class: Tariffs are paid by the buyers of the products, not by the producing country—meaning the cost falls on YOU.

[billnye]

The Tariff Act in the 1930s just made the depression worse. It will just make thinks worse again.

[Colourmad]

In Europe we don’t buy American as the quality is not up to standard and the food has ingredients that are banned.

[wnose]

Brazil has high tariffs on electronics - a ps5 cost as much as $900 on launch. 😮😮

Edit: I used a PS5 as an example, but this could mean any electrical item: phones, TVs, laptops, PC hardware

The idea of tariffs was to get Brazil to develop their own electronics industries.

But somehow a Brazillian Sony or AMD never emerged.

[あなた以外の誰でもない]

u can impose 1000% tariffs, but who's gonna pay the product 😂 the consumer have to pay the goverment the extra 1000%, not the manufacturer

[CCJJChannels]

Half of America voted for the candidate with “concepts of a plan”. Unf-cking believable. 🤦

[BeaverZer]

I own a Bosch dishwasher (European) because usa was tarriffing Canadian aluminum and American made whirlpool dishwashers were more expensive than the, better quality, European ones.

So I own a European dishwasher as a Canadian because USA made its self non competative at that time.
Womp. Womp

[thoughtsengineer]

As a Venezuelan, let me tell you that the Venezuelan gov has been putting high tariffs on all imports. Guess how we are doing now? 🙃

[ajwinberg]

My husband believes that the tarrifs will bring businesses here. I rolled my eyes and walked away because I couldn't argue with him and win. He is the guy who has to learn the hard way.

[Averageastriks]

I was explaining this to a coworker today. He was so excited about how much companies would need to pay, I set the record straight that he would be the one paying. He was not smiling anymore.