It's Tariff Time
Updated: Nov 7, 2022
Most countries are limited by their natural resources and the ability to produce certain goods and services. They trade with other countries to get what their population needs and demands. However, trade isn't always conducted in an amenable manner between trading partners. Policies, geopolitics, competition, and many other factors can make trading partners unhappy.
One of the ways governments deal with trading partners they disagree with is through tariffs. A tariff is a tax imposed by one country on the goods and services imported from another country to influence it, raise revenues, or protect competitive advantages. Tariffs raise revenue, protect domestic industries, and exert political leverage over another country.Tariffs are used to restrict imports. They increase the price of goods and services purchased from another country, making them less attractive to domestic consumers.
Tariffs can be used to raise revenues for governments. This kind of tariff is called a revenue tariff and is not designed to restrict imports. For instance, in 2018 and 2019, President Donald Trump and his administration imposed tariffs on many items to rebalance the trade deficit. Governments can use tariffs to benefit particular industries, often doing so to protect companies and jobs. By making foreign-produced goods more expensive, tariffs can make domestically produced alternatives seem more attractive. They can also be used as an extension of foreign policy as their imposition on a trading partner's main exports may be used to exert economic leverage.
Since the beginning of 2022, imports from China were over 300 billion and our exports to China were about 80 billion. It seems like 8 out of 10 items we buy from retail stores these days come from China. President Trump had his foot on the neck of the dragon and I believe that’s why we had the COVID pandemic and I believe it was intentional. China has raided our factories and gutted American industry, not to mention the worst human rights record on the planet. They are the evil empire and their goal is world domination. Now Brazil has become a colony of China, giving them a foothold in the west. But as long as the Bidens are on the payroll, it'll be business as usual.
I believe we can also fix the southern border crisis through tariffs. Mexico is the launching pad for these illegals crossing our southern border, and Mexico has the ability to stop the crossings. I believe heavy tariffs could fix that. They are not our friends America. Remember the Alamo?
It’s time we take our country back. Think about how you will vote in November.
It's tariff time!
Written Walt Ryba September 29, 2022