They will apparently collect $7.5B from steel tarrifs from everyone by the end of the year. That 10% is going up to 25% in January and China has no real counter to that since they’ve already tarriffed all our exports including some which really harm them. And trump has threatened another 267B.
3% is a substantial amount but I doubt it’ll be close to that much. Supply chains will move to avoid tarrifs, parts will be shipped to Brazil or Mexico and then into the US. Or from China to Vietnam etc. I highly doubt it’ll get to 3% but if it does and the economic impacts of that thus far are fairly minimal, that would be significant. Makes up for the entire tax cut deficit and more when accounted for dynamic scoring but again it’s still monumentally dumb to count on tariffs for revenue which Trump has been stupidly bragging about. I do completely support Trump’s trade war thus far however with the end goal of fair and reciprocal trade and limiting China militarily through the economy.
3% is a substantial amount but I doubt it’ll be close to that much. Supply chains will move to avoid tarrifs, parts will be shipped to Brazil or Mexico and then into the US. Or from China to Vietnam etc. I highly doubt it’ll get to 3% but if it does and the economic impacts of that thus far are fairly minimal, that would be significant. Makes up for the entire tax cut deficit and more when accounted for dynamic scoring but again it’s still monumentally dumb to count on tariffs for revenue which Trump has been stupidly bragging about. I do completely support Trump’s trade war thus far however with the end goal of fair and reciprocal trade and limiting China militarily through the economy.