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?
Trump has repeatedly said the he’ll match tariffs, which is hardly punitive. If a country won’t buy from us, why should we buy from them? We’ve been supplied with cheap crap for decades. Are we better off as a nation? Do any of these goods have value? We use to inherit valuable goods, tools, furniture, even clothes from our grandparents. Not anymore, it’s all useless, disposable crab.
Tit for tat elicits the fairest outcome in game theory.