What did the McKinley Tariff do?
The McKinley Tariff Act of 1890 increased the taxes on most imported goods while eliminating taxes on luxury items. The intent was to protect American industries from foreign competition. The outcome was that domestic businesses raised the prices of American products to unaffordable rates.
source https://study.com/academy/lesson/the-mckinley-tariff-of-1890.html
If you google anything related to Tariffs, the fake news and fake academia studies are working hard to slander McKinley and Trump.
Ppl around me are assuming tariffs will increase the price of imports/goods that we cannot afford anymore.
Sounds like bullshit to me, many countries that ripped us off on trade deals, just aren’t gonna get their free lunches anymore. Trump said many countries are hugely reliant on us for many things, like military assistance. Taking that away alone will make them desperate to make better trade deals.
However I’m not too educated on the matter. Could we have a discussion and dig into how tariffs will help is? I wanna educate normies
So yeah what do you guys think?
Don't overthink it. It's as commonsense as America First. Tariffs are protectionism, pure and simple. Any industry you want to build, put tariffs on the foreign competition, and the domestic industry, fueled by domestic workers, will grow in direct proportion to the tariffs.
If you really want to study it, look at the peanut industry and read about George Washington Carver's testimony to Congress. That case has a lot of info because GWC was famous already and was the first black doctor to testify before Congress iirc. Lots of info. Saved lots of American peanut farmers' livelihoods.
On the flip side look at the steel industry from the 60's to the 90's and it's easy to see how the US industry declined tremendously as protectionism was gradually withdrawn. And now we drown in cheap imported junk instead of washing machines from the 50's that are still working.
Tell them how Europe has tons of tariffs on food products, and that's why they have good food produced locally while we have standardized goo in your choice of artificial flavors and poisons.
Lots of countries use tariffs to protect their own industries and selectively grow some. The US is practically the only one that doesn't, and it's only because our supposedly elected leaders have sold us out.
It really isn't that complicated.