Walmart just leveled with Americans: China won’t be paying for Trump’s tariffs, in all likelihood you will
Walmart just leveled with Americans: China won’t be paying for Trump’s tariffs, in all likelihood you will
Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.
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Yeah, no shit. How the fuck do people think tariffs work?
In their minds, they literally think of them as some sort of "cover charge" that foreign manufacturers pay to get their goods into the US, and that they will do so gladly and neither seek other places to sell nor raise their prices. They think that these companies will eat the losses until they decide to build factories in the US, or they will simply wither away and American factories will sprout up like dandelions in a sidewalk.
The fact that all of it is completely wrong doesn't matter, because the people telling them otherwise don't have on a red hat and an ill-fitting suit.
If they knew how tariffs worked, fewer of them might have voted for the dumbass proposing to make things cheaper by raising them.
The same way they thought "Mexico will pay for the wall" was gonna work - they didn't think about it at all.
They just blindly trusted the habitual liar, despite all evidence to the contrary.
"Think"?
They are also super easy to explain. It is a tax. That is increasing yet another tax - vat.
USA doesn't have VAT
Cool. Sales tax then. Almost the same thing. Consumer pays it.