Avery Lotz, - Axios
Stephan: In talking with several people I have realized they don't really understand how tariffs work and who bears the cost. So I searched out an article that explains tariffs in non-academic terms. As you will see as you read it traitor Trump doesn't have a clue how tariffs work, and just lies over and over to Americans about what would happen if he imposed tariffs. The main headline is: you and I would pay the cost.
Credit: Megan Robinson / Axios
To former President Trump, tariffs are “the greatest thing ever invented.”
Why it matters: Trump has touted tariffs as a miraculous cure to just about every domestic and international strain, from war to child care to high grocery prices. But Trump also consistently claims tariffs are paid by countries exporting to the U.S., which isn’t actually how they work.
State of play: Trump has vowed to implement massive, sweeping tariffs — while Vice President Kamala Harris has pointed to warnings from economists that they would reawaken inflation.
Still, as Trump likes to point out, President Biden did keep his China tariffs in place, and Harris hasn’t said she’d lift them.
The big picture: Trump is right that tariffs can raise revenue for the governments imposing them.
But he’s wrong when he claims they only punish manufacturers abroad. They can also hurt U.S. companies and consumers.
What is a tariff?
A tariff is a form of tax on imported goods, designed to protect domestic companies from [...]
