Japan finally fights back 😳 (youtube.com)
97% of clothing Americans purchase isn't made in USA. In Bangladesh, workers on clothes make like $150 a month. If a 10% tariff is applied, will clothing just be 10% more expensive, since Americans still can't compete with $150/month plus 10% more? India has few environmental regulations, which is cheaper.
So is it a ‘tax on a foreign country’ on a country that ‘is ripping us off and stealing our jobs'?
70% of Walmart is imported.
A Kirby vacuum made in USA costs $500. A Hoover costs $180.
In 2024 USA collected $5t in taxes, and a 10% tarif is expected to add $400b.
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In Europe, immigration is mainly a cultural issue (people don't assimilate), but in the US that's less an issue, but it is economic, but immigrants can grow the pie, but it creates winner/loser demographics.