President-elect Donald Trump vowed to slap an additional 10% tariff on goods from China and 25% on all products from Mexico and Canada, casting the levies as necessary to clamp down on migrants and illegal drugs flowing across US borders. Bloomberg News Director Rosalind Mathieson and Lombard Odier CIO Michael Strobaek assess the implications for geopolitics and markets. They speak on Bloomberg Television.
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Tariffs mean stores will raise their prices, if you thought groceries were expensive, just wait.
Walmart is first to make a statement, look it up.
If i used to make a thing for 10 bucks, and sell it to you for 15 bucks, i would make 5 bucks. If there now is a toll/tariff that costs me (the producer) an extra 5 bucks. I have to sell it to you for 25 or 30 bucks. This is not hard. This should be elementary stuff. How are so many people this stupid?? “Other people will pay for it!”. What? How?
The era of the imperial presidency is about to start. The executive branch, commander in chief, soon to control income, soon to control expenditures. Congress becomes the income tax cut Santa, at the cost of its power.