By Michael Woyton
Has no one told him? Or has he chosen to lie to the American public, hoping they will believe him?
The convicted felon and adjudicated rapist who is the president-elect announced on his social media site Monday that on his first day back in office he will impose a 25 percent tariff on all products imported from Mexico and Canada.
Again, how will you like not being able to afford an avocado?
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The “rationale” behind Trump’s decree/threat is that he wants Mexico and Canada to close what he calls “open borders” and prevent illegal migrants and fentanyl from coming into the United States. He also will put a 10 percent tariff on goods from China.
The tariffs, he said, will be in effect until the crisis is solved.
“We hereby demand that they use this power, and until such time that they do, it is time for them to pay a very big price!” Trump wrote.
Well, you know who else will be paying a “very big price”? The American public, as economists have been saying all along.
No one outside of the Trumperverse believes that companies in Mexico, China and Canada will pay the tariffs.
As The New York Times explains, “Mr. Trump has insisted that foreign companies pay the tariffs, but they are actually paid by the company that imports the products, and in many cases passed on to American consumers.”
I think we can all be confident that “many cases” will be “all cases.”
Companies are in the business of making profits, and tariffs cut into those profits. Therefore, companies will raise the cost of their products.
Think about produce coming from Mexico being more expensive. Remember Trump’s first day back in office will be in the dead of winter when we rely on imported food, and he’s also threatened mass deportations, which economists said will decimate the crop-picking work force.
Oil is the top U.S import from Canada and the largest category of goods imported to the U.S. from Mexico are components for cars and finished cars, USA Today reported. You may not be able to afford a car, but that’s OK because the price of gas will go up. Oh, and, again, it’s winter and heating oil is in high demand.
You like electronics? A significant amount of electronic goods comes from China.
Buckle up, America.
Trump voters complained about things being expensive, but it doesn’t look as if Trump has you in mind with his economic policies.
Lead art by Michael Woyton
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