Explain Like I'm Five

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If Trumps tariffs go thru would that not cause the countries the tariffs are imposed on just raise their prices? And a result of that hurt the american consumer? Why do it to begin with? (lemmy.world)

submitted 14 hours ago by [email protected] to c/[email protected]

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[–] [email protected] 16 points 14 hours ago (1 children)

you can’t male a $12 US widget any more because widget juice now costs twice as much

At my job, I turn $20 of raw material into 25 pieces I sell for $16 each. Double my material costs, and to break even, I have to make another $20 from the sale of those 25 pieces. I have to charge $16.80 instead of $16.

[–] funkless_eck 30 points 13 hours ago

it depends on what you make. Margins on food, farming, automobiles, oil and gas, medical devices tend to be pretty small, comparatively speaking. Which are all fairly critical industries.