"It doesn’t matter how many times Trump’s told. Tariffs don’t work. The costs are not paid by the exporter. They are paid by the consumer." #QotD

"One day 'Talks are going well,' the next 'We’re raising tariffs to 25%.'
    "That’s where we are today. Because Trump thinks he’s winning the trade war and China won’t give him what he wants so he’ll disrupt global trade until he does.
    "It doesn’t matter how many times he’s told. Tariffs don’t work. The costs are not paid by the exporter. They are paid by the consumer. Tariffs don’t shift manufacturing of the goods imported onshore, they are supplied by other countries or substituted for lesser goods.
    "The consumer pays higher prices for end-user goods. The domestic members of the supply chain pay higher input prices while sclerotic domestic producers are subsidised to stay non-competitive."
        ~ Tom Luongo, from his post 'Economic Warfare Man Strikes Again'
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