Despite campaign promises, President-elect Trump’s proposed across-the-board tariff hikes are expected to increase consumer prices, contradicting his claims that tariffs only impact foreign countries. Walmart, a major retailer, has warned that these tariffs will be inflationary, impacting consumers directly through higher prices. Experts disagree with Trump’s assertion that tariffs are solely a tax on foreign nations, instead highlighting that these costs are ultimately absorbed by American importers and consumers. The potential for retaliatory trade wars and negative impacts on American jobs further complicate the economic outlook.
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President-elect Trump’s proposed tariffs, ranging from 10-20% on all foreign goods and potentially 60-100% on Chinese imports, are projected to significantly increase prices for American consumers. Walmart’s CFO confirmed that the company would likely pass increased costs onto consumers, echoing warnings from other businesses like AutoZone and Stanley Black & Decker. Economists widely disagree with Trump’s claim that other countries would bear the cost, citing previous tariffs that resulted in an $80 billion tax on Americans. Despite this, some of Trump’s Congressional supporters remain steadfast in their support.
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It’s no secret that companies are preparing to raise prices to offset the impact of President Trump’s global tariff plans. This is a move that executives are openly acknowledging, and they are clear about who will ultimately bear the brunt of these tariffs: American consumers.
The logic is straightforward. Tariffs, by their very nature, are taxes imposed on imported goods. These taxes are not borne by foreign countries, but rather by the American companies importing those goods. To maintain profitability, these companies will have no choice but to pass on the increased costs to consumers in the form of higher prices.… Continue reading
John Q. Hosedrinker 
Matt Underwood