Mikedubs said..
Just relax, his plan is working. Now they've all come to him, cap in hand, the tariffs will all become more balanced and fair, which they weren't before, whilst China has been benefitting way too much until now. In a month or so it'll all settle.
I guess you are sarcastic... If not, just ask any economist.
Or just listen to this short explanation:Trump goes to a bar, order a diet coke. Pays $3.
He says what? I have a trade deficit with the bar, I buy their drinks but they do not buy things from me!
Since he is economically illiterate, he confuses trade deficit with tariffs.
Trump thus imposes a 100% tariff on the bar.
So next time Trump orders a diet coke, he will pay $6: $3 for the bar, $3 as tax to the government.
Now for a personal example of what the demented Trump Tariffs did:I am in France and buys my wetsuit at Isurus.
But since they are made in Sheico Group (plants in Thailande, Cambodge, Vietnam et Taiwan) as nearly all wetsuits,
they will pay a Trump tariff (around 40%) to import them in the US
then I will pay 25% more to buy from them from France with the retaliatory tariffs.
This means I will pay my isurus wetsuits 75% more!
I will then order Axxe Wetsuits from Japan. Better, custom-tailored, and now cheaper than Isurus.
(Or I could order quality OZ wetsuits, you get the idea)
The US company Isurus is shafted.
Plus obviously, no company will migrate their production in the US as the mad orange king can change everything daily on a whim. Remember: Trump imposed tariffs in his first mandate and it was a fiasco.