The truth about tariffs

[The Trump Administration]

Whether or not tariffs drive up costs, ecompanies are likely to use them as an excuse to raise prices.

"It's something we saw in this inflationary period," says Lindsay Owens, the executive director of the Groundwork Collaborative, a progressive think tank.

"It does contribute to this kind of vicious circle in terms of prices for Americans and a virtuous circle in terms of profits for companies."

In 2018, when President Trump imposed tariffs on washing machines, they got more expensive. So did dryers, even though they weren't subject to tariffs — companies figured customers would assume that two related products were subject to the same forces.

If the cost of imports goes up, even companies whose products are American-made are likely to get in on the price hiking.

"It's like a Christmas gift," says Ernie Tedeschi, the director of economics at the Yale Budget Lab, who previously worked for the Biden administration. "They have this windfall given to them in their lap. They're like: 'Wait, you're telling me that my competitors are now forced to raise their prices 20%? Well, I'm going to raise my prices 19% and I've still got the competitive edge. But now I have 19% of pure profit I can just add on top.' I think that's where it's really going to sting."

So if Trump winds up imposing tariffs, can consumers expect to see price hikes?

MSN

 

[Tbird19482]

There are some that have said as soon as they know for sure Trump will put his tariffs on they will raise their prices, Heck as I posted in another thread I was at Walmart about 7 pm to night and saw a friend that works in the office there she said their store is getting ready to raise prices at least 10% on almost everything by the first of the year.
And the CEO of Auto Zone said as soon as he knew for sure how much Trumps tariffs are going to be he will be raising the cost of most everything in their stores right away.
So yes there are outlets that plan on taking advantages of this and padding their profits big time.
Just like they did and blamed Biden and inflation, a lot of large corps like Exxon have been making record profits year over year for the last couple of years gouging the American consumer.
And Not a work from the right that it wasn't inflation but corporate greed. They put all the blame on Biden .

 

[Hawkeye10]

That is called price gouging, and is in the realm of the morally inferior.

 

[Tbird19482]

That is called price gouging, and is in the realm of the morally inferior.

And big corps have been doing it and blaming Biden inflation , like I said there are corps that have increased their profits well over 100% over the last couple of years bringing in record profits year over year.

 

[The Trump Administration]

And big corps have been doing it and blaming Biden inflation , like I said there are corps that have increased their profits well over 100% over the last couple of years bringing in record profits year over year.

Maybe you should call the cops.