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So damn relevant today.
Ben Stein explains tariffs in Ferris Buellers Day Off
Submitted 6 months ago by Five@slrpnk.net to videos@lemmy.world
https://www.youtube.com/watch?v=AyyAh2lQXF8&t=45s
Comments
Sir_Kevin@lemmy.dbzer0.com 6 months ago
ExtremeDullard@lemmy.sdf.org 6 months ago
It will be when the Trump voters discover that they will pay for the tariffs and not China.
Blaster_M@lemmy.world 6 months ago
Every single kid in class: “…”
danc4498@lemmy.world 6 months ago
So counterpoint, is the tariff Trump wants intended to bring money into the government? Or is it meant to promote work locally? Does it matter? I’m no economist (though I’m probably more qualified than Trump).
rezz@lemmy.world 6 months ago
The actual function is that it hurts the offending country by taxing our own business for importing from them.
So let’s says I sell diamond rings in the US, but one or more parts of my supply chain are in China (most often lab grown diamonds, moissanite, sapphire etc; sometimes the gold and ring creation, and sometimes the entire manufacturing end to end). I will pay the tarriff upon import.
This will motivate me to switch some or all of my supply chain to Mexico, India, Taiwan, the United States (there is domestic lab stone growing operations) etc, to shed myself of the tariff.
The macro effect is that we do, on net, give less money to China by virtue of forcing our business to move to other suppliers.
In the case of some goods, this might increase costs and be inflationary (the main criticism). But it also equally possible in this example for prices to go sideways, as I can definitely make this product example competitively even if I leave China.
neuracnu@lemmy.blahaj.zone 6 months ago
There was that whole Duck Tales episode about inflation as well…
HessiaNerd@lemmy.world 6 months ago
Interesting correlary
www.youtube.com/watch?v=o8hnM6xNjeU&t=0
We’ve been headed down this path a long time.
Peppycito@sh.itjust.works 6 months ago
It’s just a joke, brah.