Donald Trump: Tariff Coffer Billions
on Friday, June 7, 2019
Steve Sack, The Minneapolis Star-Tribune, MN
Donald Trump Money Quote saying that tariffs charged on imports are earning the U.S. billions, while not comprehending that U.S. purchasers pay those tariffs, not China. Donald Trump said:
“Billions of Dollars are pouring into the coffers of the U.S.A. because of the Tariffs being charged to China, and there is a long way to go. If companies don’t want to pay Tariffs, build in the U.S.A. Otherwise, lets just make our Country richer than ever before!” — Donald J. Trump
Share the Donald Trump Money quote image above on your site:
Short Link to this Quote:
This quote suggests Donald Trump views tariffs on Chinese imports as a way to generate substantial revenue for the US government in the form of customs duties paid by China. He implies this will make the country “richer than ever before”. However, a balanced interpretation would note:
- Tariffs are largely paid by domestic consumers and businesses, so their impact is complex with both costs and benefits to consider.
- “Long way to go” acknowledges tariffs are not a one-time windfall and their effects depend on ongoing trade policy decisions.
- While aiming to pressure more domestic manufacturing, tariffs alone do not address various factors in companies’ siting decisions.
Overall, the quote reflects Trump’s perspective that tariffs can strengthen the US economy, but a full analysis would need to weigh both positions as experts debate the actual macroeconomic effects of trade wars over both the short and long run. Both pros and cons merit consideration.
You must be logged in to post a comment.