This article gets into some of the effects that the “common man” will have to deal with due to the tariffs that Trump has decided to impose. Walmart had sent him a letter asking him to walk back the tariffs as it will result in increased prices to consumers. This means you and I will have to pay more at the register for certain goods.
Sometimes it is because the goods themselves come from target countries. Sometimes it is due to components needed to manufacture certain goods will come from target countries. The net effect is clear for the common man though - higher prices, thus lower disposable income (unless additional income streams are found for the individual). The kicker: this is coming as retailers start gearing up for the Christmas shopping season. Merry Christmas everyone!
I think there is no question that the Trump trade wars have completely wiped out the modest benefits that came from the tax cuts and will continue to harm everyday American consumers, businesses, and farmers.
And with China deciding to completely walk away from trade negotiations these realities will only get worse too.
Been working with small steel fabricators while building out my 4x4, and some pretty disturbing conversations with them on how a couple are verging on going out of business due to the cost of steel.
We have far more skilled fabricators than low skilled raw production… so stupid.
The fabricators I spoke with said were just starting to make some real headway in 2016 after years of high prices and now U.S. prices have skyrocketed… for some it is the proverbial nail.
I’ve got a cousin in construction - he is trying to fast track everything now before his costs go up any further. His profit margins are growing thinner and thinner. He’s talking about possibly closing up shop and trying to go to work for a county or state job where he doesn’t have to worry about those costs out of his pocket.
