we are paying for the tariffs

[ImStillMags Mags]

U.S. consumers bearing more than half the cost of tariffs so far, Goldman Sachs says

The findings suggest Americans will continue to struggle with high prices — something Trump promised to address in the run-up to his re-election.

https://www.nbcnews.com/business/consumer/us-consumers-bearing-half-cost-tariffs-far-goldman-sachs-says-rcna237283

[Lobo]

The article's title is misleading in one important respect. Whatever percentage of the cost is currently being borne by American consumers, the rest is being paid by American businesses. NOT by foreign countries, which don't pay a single cent of the tariffs to the United States.

Of course, trade wars harm both sides, by making it more expensive and thus more difficult for both countries to sell their exports to the other side. But despite one of Trump's more absurd lies, it doesn't follow that any money from the exporting country goes to the importing country's government. Tariffs are a consumption tax paid by the importing country's businesses, at the importing country's ports, to the importer's own government. And the cost is then either absorbed by that importing business or (far more often) passed along to consumers.

When Trump brags about how much money his tariffs are bringing in to the Treasury, he tries to con the ignorant into believing that it's coming from China and other countries, which is Grade AAA Bullshit. On the contrary, it's a massive TAX HIKE on American consumers!

A tax increase, btw, that hits middle to lower-income US consumers the hardest, because they spend an increasingly larger percentage of their incomes on food and other consumption items, as that income decreases. And doing it at the same time that he and his congressional MAGAs spend TRILLIONS of dollars on tax expenditures for the rich, the super-rich, and especially the obscenely-rich, who were already paying a much lower effective Income Tax rate than ordinary Americans, and now can pay nothing at all  thanks to Trump/Musk's "DOGE" gutting the IRS' ability to make them pay...

[Navy]

Only if they buy tariffed goods. I won't.

[plainolamerican]

No more imported chocolate, coffee or wine for you.

[Lobo]

<< Only if they buy tariffed goods. I won't  >>

You're probably unaware of just how many things you consume are imported, like most fruits and vegetables, and a large percentage of meat and fish. Not to mention how many things manufactured here use foreign tariffed parts and materials, from everyday items to metal cans to cars. Few people have any real idea.

Besides, far from using an opportunity to undercut foreign competition, American manufacturers are simply raising their own prices to match theirs.

[Navy]

My coffee is from Texas, my chocolate is made in  the US and my wine is Also American. See how that works?

[Exposeposers]

Nope! There is no commercial coffee beans grown in Texas. There are coffee roasting facilities that use imported beans in Texas. These are subject to tarrifs.

• US chocolate production: 

  Due to the lack of widespread suitable climate, the vast majority of chocolate consumed in the US is made from cacao beans imported from other countries. 

[Navy]

Oh well...we all will pick and choose what makes it worth it to us. I'm fine with the tariffs.