(January 27, 2017 at 11:49 am)Tazzycorn Wrote:No I'm not okay with it, and where did I say that I supported getting involved in a trade war? As far as Trump raising taxes on imports coming from Mexico, all I did was tell what I saw on the news. I never said anything about whether I supported it or not. President Herbert Hoover did something similar to that just prior to the Great Depression. His intentions were in the right place to help put Americans to work and to help our farmers during a recession that we were going through at the time. It worked for a while until a coincidence of economic downturns began happening across the world. In retaliation other nations started raising import taxes on American goods.(January 27, 2017 at 10:20 am)A Theist Wrote: Trump is threatening Mexico with up to a 20% tax on their imports. If he makes good on that it will be more than enough to pay for the wall.
So I take it you're ok with US citizens about 35% more for goods imported from Mexico then?
Because that's what an import tax means, the buyers at the end of the chain pay it (plus a little extra built in at each step).
Here's something else for discussion....The Tariff Act of 1930
Quote:The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), otherwise known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff,[1] was an act sponsored by Senator Reed Smoot and Representative Willis C. Hawley and signed into law on June 17, 1930. The act raised U.S. tariffs on over 20,000 imported goods.[2]
The tariffs (this does not include duty-free imports – see Tariff levels below) under the act were the second-highest in the U.S. in 100 years, exceeded by a small margin by the Tariff of 1828.[3] The Act and following retaliatory tariffs by America's trading partners helped reduce American exports and imports by more than half during the Depression;[4] but economists disagree by how much.
https://en.wikipedia.org/wiki/Smoot%E2%8...mic_events
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