Tariffs on China: Trump was Dumb, Biden is Dumber

Source: CounterPunch
by John Feffer

“If you’re an average U.S. citizen, the tariffs will mean higher prices not only for products from China but for anything that depends on inputs from China. Farmers will continue to find it more difficult to sell their soybeans and corn to China. Manufacturers are going to have to pay more for high-performing components like batteries. Biden himself understands the economic logic. In 2019, he said that Trump ‘thinks his tariffs are paid for by China. Any beginning econ student at Iowa or Iowa State could tell you the American people are paying his tariffs.’ According to one estimate, the bill to consumers for Trump’s tariffs was $48 billion, with half paid by manufacturers.” (05/28/24)