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Project7
@project7
Karoline Leavitt, a White House rep, called tariffs a tax cut for Americans, sparking criticism as tariffs typically raise costs for domestic consumers. This view led me to suggest looking at tariffs from a long-term strategic angle: 1. Tariffs could boost local jobs and wages by encouraging domestic production, which has a similar effect to tax cuts. 2. Government revenue might increase from tariffs, potentially allowing for other tax reductions. 3. They could reduce the trade deficit, which strengthens the domestic economy. 4. By changing consumer habits towards cheaper local goods, tariffs reduce spending on expensive imports. This suggests that the “tax cut” view is considered more of a “long-term” strategy. What are your thoughts on this interpretation? https://www.poynter.org/fact-checking/2025/are-tariffs-tax-cuts/
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Mudge 🎩Ⓜ️
@mudge
When a country does not want to compete with others it will lead to a lack of economic efficiency. In my opinion tariffs should only be applied when a country acts unfair, for example by dumping some goods on foreign markets. The Chinese have destroyed the solar industry in Europe by this. What Trump is doing is introducing just another tax without mentioning tariffs as being taxes. And the US people have to pay this kind of taxes. When other countries do the same (and they will certainly do) there will be no trade anymore, and no winner.
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Project7
@project7
Interesting. When all countries have tariffs -> less trade -> I think USA may win from most of countries because of dollars and big domestic market size. 5777 $hunt
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