this post was submitted on 27 Nov 2024
178 points (93.6% liked)
Explain Like I'm Five
15430 readers
151 users here now
Simplifying Complexity, One Answer at a Time!
Rules
- Be respectful and inclusive.
- No harassment, hate speech, or trolling.
- Engage in constructive discussions.
- Share relevant content.
- Follow guidelines and moderators' instructions.
- Use appropriate language and tone.
- Report violations.
- Foster a continuous learning environment.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The tariffs will be paid by the importing companies, and then it will cause the prices of those goods to rise.
The hope is that this will incentivize and result in more development of the American manufacturing sector, resulting in medium and long term gains.
Short term there will definitely be a cost, paid by us.
Long term the cost will also be paid by us. Prices won't go down when we start producing locally.
The expected benefits don’t include prices going down. They include:
How is it expected for purchasing power to go up if prices increase and wages do not?
It’s expected that wages will, as more US stays within the US economy.