Increasing the import duties on foreign cars by 25% will make imported cars cost more. It will not make US made cars cost more. The same is true for everything else made in the USA, cost to consumer stays the same except for inflation, which never stops increasing.
The US imports most hard goods, such as electronics, nails and screws, coffee grinders, etc. and prices will increase because of the added duties, but competition between brands will cause them to absorb some of those duties, and American manufacturing is already stepping up to make these goods here again because now they can compete again in price.
Also, the prices of foreign goods has gone up a lot since our manufacturing went overseas because their worker wages have increased as their own standards of living increased, so their goods are not nearly as competitively priced as they used to be. By the end of Trump’s four years, that have barely started, Made In The USA will be stamped on almost everything we buy again instead of Made In China, and the quality control will be to OUR standards instead of their nearly non-existent ones.
This won’t happen overnight, best estimates I’ve seen are that it will take about two years for our manufacturing to take over again and the marketplace to level off, and until then, things are going to be more difficult economically than they are at present for most Americans.
It’s vital for us to go through this because otherwise our country will never recover from the loss of our manufacturing and the rapidly increasing national debt, and our nation will become bankrupt. Once that happens, every nation that owns a piece of us will take over our assets. If you think the temporary stock market downturn now is important, wait until you see the utter collapse of it if the USA goes bankrupt.
The USA is the backbone of modern civilization. The Dollar is the world’s currency, Made In America was until recently the global standard and needs to be so, once again. It’s the USA that’s upheld the standards of democratic government, personal rights and human freedoms across the globe for others to emulate and our problems now are the result of the degradation of these standards here at home. The reasons are too many to get into for a blog post, but any of us who’ve paid any attention at all don’t need to be reminded why.
If the USA goes bankrupt, so will the world economy. The tariffs are about far more than just saving America’s economy, they are literally about saving human civilization from stepping backward into anarchy as everyone fights each other over our scraps while international trade collapses, and the starvation, diseases and riots spread.
This isn’t an imaginative overreach. If the US fails, China will start attacking those nations no longer supported by us, so will Russia, and the EU will be doing it’s best to suck up all the territory it can. It’s not a big stretch to imagine nuclear weapons being used and maintaining the economic integrity of the United States is the only thing preventing all this.
Why do you think China and other states have been trying so hard for so long to destroy our economy?