U.S. President Donald Trump will act on his threat to levy 25 per cent tariffs on Canadian and Mexican products, says White House press secretary Karoline Leavitt.
Except they’re not really extorting other countries (unless those countries are stupid enough to give in to the mere threat) since tariffs are not paid by other countries. They are paid by US importers and as a result by US consumers. Really they are just taxing their own citizens. Problem is that a significant chunk of Americans have no idea what tariffs even, they just support them because they think it sounds like they’re “being tough” on other countries, they mistakenly assume that it’s a way to punish/tax other countries.
Except they’re not really extorting other countries (unless those countries are stupid enough to give in to the mere threat) since tariffs are not paid by other countries. They are paid by US importers and as a result by US consumers. Really they are just taxing their own citizens. Problem is that a significant chunk of Americans have no idea what tariffs even, they just support them because they think it sounds like they’re “being tough” on other countries, they mistakenly assume that it’s a way to punish/tax other countries.