Murdoch or Trump?
Honeybee
joined 3 months ago
Trump says he will announce 25% steel and aluminum tariffs Monday, and more import duties are coming
The worst part about this, for the first three sentences I couldnt if it was serious. Then I suspected it may be satire, but I cant tell 100 percent certain
Not an economic, but everything is entangled
Say you have two products: one from USA ($110) and the same from Canada ($100). Now we impose a tariff of 25 pct on the Canadian product ($125).
This means that consumers are going to buy the cheaper product, resulting in less income for the Canadian manufacturer.
The USA manufacturer can increase the price to $120, and still be cheaper than their Canadian counterpart. All while prices for customers are increasing