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?
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.