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?
Our initial condition right now is globalism--we rely on trade with a lot of countries to import goods. Does anyone believe we'll be able to ramp up manufacturing in the next four years to be significantly less reliant on the import of goods? Prices will go up in the short term because companies will pass the costs on to the consumer in the beginning.
The biggest problems we're up against is human capital and specific countries manipulating their currency.
I am for tariffs. However, we need to cut government spending to decrease inflation. We need to reduce our debt.
It's hard for me to wrap my head around the fact that Americans want to work manufacturing jobs for the prices companies want to pay. Companies want to improve their bottom line so why not manufacture overseas where expenses are much lower even after you factor in logistics? I think we can do better in terms of energy, but producing goods is something I see other countries having the upper hand because of much lower wages. I think people should earn a fair wage and I know that's subjective but if consumers care most about price it's hard for made in the USA to compete.