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?
Tariffs don't having to be broad and all encompassing. If Chyna is currently the only source of whatever object we need, that object likely will not be included in a tariff.
But isn't that one of the main points of tarrifs? To use them to increase US manufacturing instead of importing from other countries?
I'm not trying to be rude here. I'm legitimately trying to understand this better.
Are you getting this from some source, or is it just your personal feeling?
I ask this because as I mentioned in a different post here, people seem to be all over the map as to tarrifs.
It goes from tarrifs being high enough that it encourages companies to completely reorganize their companies and start manufacturing in the US to them basically being non-existent.
The biggest problem is that there really isn't anything concrete out there concerning what Trump is planning. It would help so much if there was something that just showed what he has planned.
Otherwise it just seems to be people projecting whatever they want to see happen. And even then, it's often just a poorly thought out wishlist that contradicts itself constantly.
No offense taken at all. Also, I am no expert here either. In his first term tariffs covered some things from a country and not others. I can not source that right now. The interwebs are so full of clutter about Trump tariffs right now, I just don't have the ambition to wade through all of that to find what I would need.
As for the rest, I think it is a very delicate balance to reach positive outcomes. What that balance is idk.
The big thing here is Trump uses it as a bargaining process to get what he wants.
I too have many questions.
I've been going back over what Trump has said about tariffs with China, and he has been saying that he's going to impose at least a 60% tariff across the board on goods imported from China.