Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.
Seems like Trump uses tariffs as some magical thing. The entire idea of tariffs is to raise the price of imports for the purposes of protecting a domestic industry. Practically nothing walmart sells has an equivalent of being made in the US so I have no idea who they’d be protecting here.
The reality is that practically everything consumed in the US is made in China or sources components from China. What the tariffs mean in practice is that input costs are going to go up across the board making everything more expensive. Given that huge numbers of people are already living on subsistence wages, they don’t have much room to absorb a sudden cost of living increase.
Seems like Trump uses tariffs as some magical thing. The entire idea of tariffs is to raise the price of imports for the purposes of protecting a domestic industry. Practically nothing walmart sells has an equivalent of being made in the US so I have no idea who they’d be protecting here.
Consumers aren’t gonna be happy when all their Amazon and Temu no-name made-in-china garbage becomes dramatically more expensive.
I bet Temu items won’t be tariffed. Directly mailed things are not always detected or declared.
The reality is that practically everything consumed in the US is made in China or sources components from China. What the tariffs mean in practice is that input costs are going to go up across the board making everything more expensive. Given that huge numbers of people are already living on subsistence wages, they don’t have much room to absorb a sudden cost of living increase.
https://edconway.substack.com/p/globalisation-is-a-far-far-bigger
Not only no-name garbage: the whole gamut of quality all the way up to the some-name high-end.