Trump warned automakers not to raise prices after his tariffs and be happy how ‘great’ they are
wellheh @ wellheh @lemmy.sdf.org Posts 3Comments 101Joined 2 yr. ago
wellheh @ wellheh @lemmy.sdf.org
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Prices increase in response to increase in costs- this is so basic it's covered in introductory econ courses and applies to all businesses. Adding costs to production has to be reflected in the final price. Tariffs pretty much never help consumers- they prop up inefficient industries that can't compete with global trade. In general, global trade with low tariffs is better because of specialization