Trade wars are a winning
strategy, because no matter what happens, China is
paying us billions in tariffs! The Treasury is collecting
tremendous amounts of money, and that’s great
for our country. Dead wrong. Tariffs are taxes on imports. They are not paid by the
Chinese government, they are not paid by the Chinese
exporter, they’re paid by the U.S. importers
straight to the U.S. Customs and Border Protection
within ten days of the product clearing customs. Anything that the U.S.
Treasury gets, it takes from U.S.
companies and consumers. An evaluation of Trump’s 2018
steel tariffs shows that it raised prices of steel
products by almost 9%, so U.S. steel users had to pay $5.6
billion dollars extra because of higher prices. And the washing machine
tariff raised the price of the average product by $86. Domestic producers also raised
the price because now, they didn’t face that much
competition, so they could take whatever they wanted. It did protect some 1,800
jobs, but at a cost to the consumers of $1.5 billion
dollars a year, that's an incredible $815,000 per job. So Donald Trump could instead
just buy each of those workers two Rolls Royces a year, as
an incentive to get a job in a more competitive business. Or if he wants to protect the
home appliance industry, he could buy each of those
workers more than 1,000 washing machines a year. Wait! Don't forget to subscribe to our channel here. And watch these other videos. And check back next Wednesday for a new Dead Wrong from Free To Choose Network.