Tariffs. How are you affected?

I am not sure what product I would purchase from our friends in Germany, but it is the rich people, who are buying BMW's & Benzes. I don't consume any truffles or caviar or Jamon Iberico. If coffee is tariffed; we do one bag of Starbucks 40-OZ per month, the cost of coffee for 2 people is a dollar a day.

In the supermarket, I could buy either expensive or cheap: eggs or milk, or others.

Saw a Mr Scott Bessent on Fox, he said that DC is rolling in the bucks on tariffs, which is good because we have a two trillion current deficit with 30 $ Tril. outstanding.
Gas is cheaper.

Electric cost is burdened by add-ons for offshore turbines that don't turn a profit. Here in South Jersey our state gasoline taxes and sales taxes recently nudged up one eighth (0.125% ) so, if the numbers are showing inflation: it's not all on the tariffs.

We did loose our 55 year old Oyster Creek Nuclear station here in The Pines. We have no turbines in the Ocean yet. Remembering the fish who would gather near the plant, the warm water outflow in the cold winter.

Figuring that its wealthy consumers who are hit by higher costs for that type of life-style. Higher tax and insurance for fine properties. Vacations.

Didn't we all want a consumption tax?

Do tell how tariffs affect you ?

 

Tariffs are a tax on imports. Paid for by the importers and passed on to the USA consumer. Not paid by the company or country selling to the USA. That includes components. So if a component were sold to the US from say UK, for use in making a US product, that US product may increase in retail price.

My step-son in Florida has noticed his weekly shop go from 100 bucks to 170.

So, given that you wrote the following, who do you think is bringing in those bucks on tariffs?! Yeh, you the American consumer.

This may assist people in trying to understand who bears the brunt of tariffs.

Trade: tariffs | Institute for Government

 

Ie….a tax on American consumers. And years of lowering prices on imports has led to Southern Hemisphere citrus, grapes summer fruits in our off-season. And coffee, good look on your cup of morning joe if America has to depend on Hawaiian coffee.

A well established economic concept is comparative advantage. The US is not destined to become a large mango producer, coconut oil, or hearing aid manufacturer, Denmark anyone? Pursuing free trade, and fair trade can benefit everyone. As does maintaining a proficient and educated workforce. Tariffs as we see them today are a ugly concept properly discarded a 100 years ago….a monument to ignorance.