Tbird19482
Verified User
Inflation is not a tax.The idea of tariffs is to raise the cost of foreign made products so that American made products can compete. For example China subsidizes its steel industry and dumps low cost steel on the American market. That caused our steel industry to collapse. Trump put tariffs on Chinese subsidized steel and made American steel competitive. Trump is worried that China has cannibalized American manufacturing. He is trying to encourage the return of American manufacturing. He is going to lower corporate taxes on things made in the US. That will encourage the return of American made products.
PS Bidenflation was a 20% tax on everything! Not just some of the things we import.
Tariffs aren't either but WILL drive up the cost of about EVERYTHING we buy.
and 20/30 or more % will make that 20% inflation under Biden look like chump change.