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?
“Anyone? Anyone?” - FBDO
So, absolutely the best deterrence we have against retaliatory action from trading partners is that we have the nukes, and we are basically The Shield for Europe and other partners. That helps for the stuff imported from or created through supply chains that mostly involve Europe and others. The problem is that the majority of what we import does not come from someone under our protection, but someone who we actively monitor and surround with military bases and regularly engage in trade wars with. And crucially, we are far from the only country who relies upon China for imports, otherwise tariffs from just us would be providing a lot more pressure.
However, it is possible that we could force European and Commonwealth countries to also adopt the same tariffs, again because we have the biggest guns. Russia’s “aggression” actually makes that scenario more likely, and in that case, we’d have a much better outcome.
But regardless, I do think people need to understand that without the American government forcing our globalist companies to just swallow the hit, there will absolutely be price turbulence. Tax cuts and rebates can help mitigate that, there’s lots of levers to pull. Don’t expect a switch to be flipped and suddenly the economy is great in February. It is possible for tariffs to help in the long run, but there will be a stretch when it doesn’t feel good. Most battles that are worth something are like that - basic narrative design.