Donald Trump has consistently misled the American public regarding who ultimately bears the cost of the tariffs he has imposed on most imported goods. On Sunday night, he unintentionally revealed the truth about this issue.
The president has long maintained that it is "other countries" that pay for the tariffs. However, this claim is misleading. In reality, the importing companies are responsible for paying the tariffs, and they often pass these costs on to consumers. While it's possible for exporting companies to absorb some of the burden by lowering their prices, it is not foreign governments that are sending billions or trillions of dollars to the United States, as Trump has suggested.
In a recent social media post, Trump attempted to reiterate his false narrative about the benefits of tariffs. He wrote, “Despite the massive amount of money being made by the United States of America, Hundreds of Billions of Dollars, as a direct result of Tariffs being charged to other countries, the full benefit of the Tariffs has not yet been calculated.” This statement aligns with his usual rhetoric, designed to shift blame away from himself for the rising costs faced by American consumers.
However, in the same sentence, Trump inadvertently exposed the truth. He added, “Many of the buyers of goods and products, in order to avoid paying the Tariffs in the short term, ‘STOCK UP’ by purchasing far more inventory than they can use.” This admission clearly indicates that it is the buyers—essentially the importing companies and, ultimately, the consumers—who end up bearing the cost of the tariffs.
This revelation should not be surprising if the burden were truly on foreign governments. Instead, it highlights the real impact of Trump’s policies on American businesses and households.
Following this admission, Trump claimed that “the amounts payable to the USA will SKYROCKET, over and above the already historic levels of dollars received,” and that “these payments will be RECORD SETTING, and put our Nation on a new and unprecedented course.” While it is true that the U.S. government will collect more revenue from tariffs, this money comes directly from the pockets of consumers or the profits of American businesses.
Trump’s assertion about the economic transformation caused by his tariffs is also partially accurate. Never before has a president attempted to significantly damage the economy through such extensive tariff policies.
It is worth noting that this is not the first time this month that Trump has acknowledged the negative effects of his policies on consumers. Ten days ago, he reduced tariffs on a wide range of agricultural products to ease food price increases, just a few days after Democrats won elections on a platform focused on reducing the cost of living for Americans.
Voters have shown they are not convinced by Trump’s claims. A recent poll found that nearly three-quarters of Americans, including more than half of Republicans, believe that the president’s tariffs are raising the prices of everyday goods.
Despite this, it seems unlikely that Trump will abandon his tariffs. However, the Supreme Court may soon decide whether the tariffs are legally valid. The court will rule on whether the emergencies cited by the president to justify the tariffs are legitimate.
Trump, who is not known for subtlety, has already sent a message to the justices and others who do not support his rhetoric. He wrote, “Those opposing us are serving hostile foreign interests that are not aligned with the success, safety and prosperity of the USA. They couldn’t care less about us. I look so much forward to the United States Supreme Court’s decision on this urgent and time sensitive matter so that we can continue, in an uninterrupted manner to, MAKE AMERICA GREAT AGAIN!”
Based on the oral arguments in the case, Trump might want to temper his optimism. However, the Supreme Court has shown a tendency to favor Trump, which could mean the right-wing majority will allow him to continue imposing higher costs on consumers and businesses.
0 Response to "Trump Unintentionally Reveals US Companies Fund His Tariffs"
Post a Comment