Trade war would harm state's consumers, jobs
Throughout his campaign for a second term as president, candidate Donald Trump — in describing tariffs as “the most beautiful word in the dictionary” — insisted that it was foreign countries and not consumers who would pay the additional costs of tariffs he promised to impose once in office.
In threatening tariffs of 25 percent on Canadian and Mexican imports, scheduled to have gone into effect Monday at 9 p.m. local time, as well as an additional 10 percent added to the existing tariff on Chinese imports, President Trump was admitting to the potential consumer pain. Sort of.
“WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!)” Trump posted on Truth Social on Sunday night. “BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”
Whether upper case or lower case, “yes, maybe and maybe not” is not the most definitive of statements. For a more certain admission of how the tariffs — especially those placed on Canadian imports — would affect U.S. consumers, look at the tariffs themselves; while all other goods and services from Canada would face a 25 percent surcharge, the tariff on oil and natural gas from Canada faced a 10 percent tariff, a reduction that Trump apparently hoped would cushion the impact on fossil fuel prices from the United States’ largest foreign supplier of petroleum.
https://www.heraldnet.com/opinion/editorial-trade-war-would-harm-states-consumers-jobs/
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