this post was submitted on 19 Feb 2025
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Trump says he will introduce 25% tariffs on autos, pharmaceuticals and chips. (neuters.de)
submitted 3 days ago* (last edited 3 days ago) by Cat@ponder.cat to c/technology@lemmy.world
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[–] hydrospanner@lemmy.world 2 points 1 day ago (2 children)

Anyone who thinks tariffs will do anything at all positive for the American working class is absolutely clueless.

All they do is make prices jump for consumers. It doesn't put domestic goods at an advantage because the domestic producers of those goods increase their prices artificially to achieve parity with import pricing.

So prices go up for the consumer with the extra money going to either:

  1. For imported goods, to pay the tariff, a tax, to the government, which in this case wants to use that tax revenue to offset tax cuts for the wealthy.

or

  1. For domestic goods, it's pure straight profit for the unethical corporations who are price gouging their domestic customer base. They're not giving the consumer a break on price and they're not sharing the profits by giving employees raises. Hell, they're not even taking advantage of the competitive advantage to ramp up production and create jobs. They're just pocketing that extra cash for doing exactly what they're always doing...passing it on to, you guessed it...the wealthy.
[–] Syntha@sh.itjust.works 1 points 1 day ago
  1. assumes that domestic producers can produce with similar costs as their international competitors, which obviously isn't the case in most circumstances. In fact, the entire point of tariffs, that are meant to protect domestic industry, is raising domestic competitiveness. If they'd already be equally competitive to international producers, tariffs wouldn't do much.
[–] RememberTheApollo_@lemmy.world 1 points 1 day ago

Anyone who thinks tariffs will do anything at all positive for the American working class is absolutely clueless.

That’s the entirety of trump’s followers.