Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.
That’s never going to happen. What will happen is that companies will raise their prices slightly higher than the tariffs cost them, fire more of their workforce, and then brag to investors about their most profitable quarter ever. Plus, that would require the tariffs to be on finished products only. I’ve already heard of several companies announcing no Christmas bonuses this year because they need to stock up on materials in anticipation of the incoming tariffs.
And most of the people supporting tariffs thought that they were going to make things cheaper AND that China was going to pay them.
That’s never going to happen. What will happen is that companies will raise their prices slightly higher than the tariffs cost them, fire more of their workforce, and then brag to investors about their most profitable quarter ever. Plus, that would require the tariffs to be on finished products only. I’ve already heard of several companies announcing no Christmas bonuses this year because they need to stock up on materials in anticipation of the incoming tariffs.
And most of the people supporting tariffs thought that they were going to make things cheaper AND that China was going to pay them.