Trade wars are a most stupid way to go about things. The wealthy seem to like them though. The poor pay for them.
Perhaps having given huge sums of money away through myopic tax cuts Trump is after clawing it back through the backdoor from tariffs? Another way to soak the poor?
So, you think Trump’s intention to place tariffs of up to 25% on steel and aluminum imports won’t matter to you? You’ve skimmed the headlines, shrugged your shoulders, and moved on to the juicier news surrounding Jared, Ivanka, Hope Hicks, Donnie and others in the chaotic White House? Well guess what … it will matter to you, and in more ways than one.
First, how much did you pay for that last clothes dryer you bought? Around $400? Well, if you have to replace it, look for your next one to cost around $600. The imported beer/wine you like from France/Italy? Add 30% or so to the price a month from now. And a new car? Don’t even think about it.
Long story short, Trump has decided, against the advice of many in his administration, including Gary Cohn, Director of the National Economic Council and Trump’s chief financial advisor, to…
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