President Donald Trump’s international trade war might have made sense from an American perspective in the 19th century.
Certainly, Trump is to be commended for trying to protect U.S. patents, trade secrets, and intellectual properties. China, as we know, doesn’t always play by the rules. He’s also trying to support American-made steel and aluminum.
Tariffs vs. Global Economy
But, in today’s global economy, parts manufactured in several countries might be assembled into a finished product in yet another country. And consumers worldwide make billions of decisions every day based on price, quality, and speed of delivery.
A tariff — while somewhat mysterious to many Americans — is really quite simple. It’s nothing more than a tax. One that is dipping deep into American wallets, even as the president boasts about creating and protecting U.S. jobs.
Capitalizing on Tariffs
In the video above, I explain tariffs, the president’s trade war, and how some American companies used Trump’s tariffs on Chinese goods as an opportunity to raise their prices and increase their profits.
Remember: Free trade is best for consumers.