growstuff
*whereas "experts explain that tariffs are actually paid for by American businesses and consumers. That would make it the largest “tax hike” in US history"*
Exactly! I really despair at how gullible people are.
Yes, if the consumer continues to buy the same products, the objective is to persuade them to buy US made products. $6 trillion is a lot of money even on the US scale, it goes straight into the federal bank balance.
The tariffs on the UK seem as predicted, 10% on a Bentley or bottle of Scotch isn’t going to deter many customers. EU was much harder hit, together with much higher defence spending they will have a hard time balancing the books.
Trade Tarriff are highly complex and hard to quantify, if the changes are “reciprocal,” many countries were very restrictive, I know India had very high tarrifs on imports. The US was a soft touch - until now.