[–] Optional-Reading ago
Bongino alluded to this on his show recently. In the short run the trade war will claim victims on both sides and in the long run we could theoretically supplement income taxes with tariffs. The US has the largest economy in the world, we are king makers by granting access to our market. Also we have the number export in the world still, our currency.
[–] Madrigalian 0 points 1 point 1 point (+1|-0) ago
Now, if you do the math this helps to explain why certain companies are so dead set to harm Trump's administration. They can't hurt him directly but they can go after him in the realms of public opinion and identity politics. Two companies in particular come to mind. LEVI's and NIKE. LEVI's started an Anti-gun campaign and NIKE, well, we all know what NIKE has been promoting. And the article above helps to understand why. Both companies make most of their profits from cheap Chinese labor. I believe it was almost 20 years ago when LEVI's closed all of their manufacturing down in the United States and shifted their entire work force over to China and Mexico. Now, they are feeling the pain of these Tariffs. And, of course, they don't like it one bit.
Btw, I quit buying LEVI's the moment they went over seas. There are plenty of well made American manufactured brands still out there today. They're a little more expensive sometimes... er, wait... they "were" a little more expensive sometimes, but now with the Tariffs in place, low and behold, there's a level field for American competition again. How about that.