Wherefore, honest men and wise men should be sought for diligently, and good men and wise men ye should observe to uphold; (D&C 98:10)

Wednesday, March 7, 2018

Why are Tariff's Are Bad for Economies

Tariffs are a sales tax. The more expensive steel is the more expensive are any of the things made from it. Pretty simple.

See "Steel Yourselves" by The Editors, National Review


Roosevelt slapped an embargo, effective October 16, “on all exports of scrap iron and steel to destinations other than Britain and the nations of the Western Hemisphere.” ("How U.S. Economic Warfare Provoked Japan’s Attack on Pearl Harbor" By Robert Higgs)
An embargo is like a super high tariff.

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[Trump's] decision may put regions and states at an economic disadvantage, in at least two additional ways.
...
retaliatory tariffs from other countries on key American export industries
...
ripple effects of higher prices for steel and aluminum imports
("How Trump’s steel and aluminum tariffs could affect state economies", Max Bouchet and Joseph ParillaTuesday, March 6, 2018)


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