I don't usually post, so this may not go well, but I will try anyway since I am in Puerto Rico with my boricua wife.
The purpose of these tariffs is two-fold: one, to bring high-paying jobs back to the US, and two, to fix our supply chains, which, as we witnessed during COVID, are vulnerable. Even our weapon systems use Chinese-sourced pr…
I don't usually post, so this may not go well, but I will try anyway since I am in Puerto Rico with my boricua wife.
The purpose of these tariffs is two-fold: one, to bring high-paying jobs back to the US, and two, to fix our supply chains, which, as we witnessed during COVID, are vulnerable. Even our weapon systems use Chinese-sourced products.
This is a once-in-a-lifetime opportunity to rebuild our manufacturing base augmented with AI and robotic technology and control our supply chains.
Economic theory states that a 10% tariff has the following impacts: 4% is absorbed by the tariff-paying country. Another 4% is negated by relative currency appreciation. That leaves 2% for price increases. These numbers vary by the relative economic power of the two countries, with the advantage going to the trade deficit country.
We do not have to wonder. We can look at recent experience. During his first term, Trump imposed a tariff on China, and the prices for those goods rose by 0.7%. The UAW has looked at these numbers and supports what Trump is doing.
I don't usually post, so this may not go well, but I will try anyway since I am in Puerto Rico with my boricua wife.
The purpose of these tariffs is two-fold: one, to bring high-paying jobs back to the US, and two, to fix our supply chains, which, as we witnessed during COVID, are vulnerable. Even our weapon systems use Chinese-sourced products.
This is a once-in-a-lifetime opportunity to rebuild our manufacturing base augmented with AI and robotic technology and control our supply chains.
Economic theory states that a 10% tariff has the following impacts: 4% is absorbed by the tariff-paying country. Another 4% is negated by relative currency appreciation. That leaves 2% for price increases. These numbers vary by the relative economic power of the two countries, with the advantage going to the trade deficit country.
We do not have to wonder. We can look at recent experience. During his first term, Trump imposed a tariff on China, and the prices for those goods rose by 0.7%. The UAW has looked at these numbers and supports what Trump is doing.