Source: Free Association
by Sheldon Richman
“Trump wants us to think that tariffs — his favorite word — are paid by exporters; you know, those crafty foreign manufacturers who’ve been exploiting us American naifs from time immemorial. Stop the presses! He’s wrong. To state what should have been known, U.S. tariffs are taxes that American importers of foreign-made goods pay to customs officials at ports of entry. While under unusual market conditions, an American importer might persuade an exporter to lower his price to offset the tariff, this did not happen with most of Trump’s tariffs.” (5/01/26)
https://sheldonrichman.substack.com/p/tgif-straight-talk-on-tariffs