The executive brand of the government is set to decree that all imported steel and aluminum will be taxed 25% and 10%(respectively) of the principle upon entering the United States.
That tax won’t be paid by the suppliers, it will be the American people that take the hit, and the US Government that will clean up the rip.
The President believes starting trade wars with allies is a cutting edge approach to diplomacy, and all of us are going to suffer the consequences.
Here are 3 examples
- Beer and soda
The cost of beer is going up folks due to the premium on aluminum, the difference could be dramatic. Anyone down to pay $12 for a six pack of booze? How bout $2.00 for a canned soda? Prepare yourself, because it’s coming
Steel is an important ingredient when manufacturing a car, the price of all domestic automobiles is set to rise, and countries affected by the tarrifs that supply cars to the United States could take their pound of flesh as well.
Because imported steel will now carries a 25% tarrif, the cost of constructing houses, buildings, and other infastructure is going to rise big time, which means a rise in pricing, and increased taxes. Rent will rise all over the country. This dynamic could be the most damaging of all