Trump’s long-threatened tariffs against Canada and Mexico are now in effect, kicking off trade war
a year ago by cuban_Pete to c/world
WASHINGTON (AP) — President Donald Trump’s long-threatened tariffs against Canada and Mexico finally went into effect Tuesday, putting global markets on edge and setting up costly retaliations by the United States’ North American allies.
My question has always been “where the hell is that extra money gonna go?” It’s the government responsible for collecting the tariffs, which means it goes straight into their bottom line.
Short answer is it’s also going to be funneled straight to the rich via the tax breaks and subsidies.
Allies should not permit adversaries to bypass tariffs by establishing operations within their borders. Ceasing support for China in circumventing our trade restrictions would eliminate this problem altogether.
The US is not an ally any more.
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@quokk.au
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Trade wars never really end, they just keep getting worse. Slapping tariffs on allies like Canada and Mexico is just asking for a backlash, and all it really does is make everything more expensive for regular people. Inflation’s already been rough, and now Americans are basically getting hit with a hidden tax. Meanwhile, businesses and other countries are watching this chaos and probably making plans to rely on the U.S. less. Everyone loses from this stupidity.
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