Comments by "DailyBeatings" (@DailyBeatings) on "Removing Additional Tariffs on China to Benefit All: Spokesman" video.

First it will benefit the US population because a tariff is a tax paid for by the end consumer.
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@Vorraboms You have no idea what you are talking about. When tariffs are placed on foreign goods in order to secure short terms profits domestic manufactures raise their prices to match the imported goods plus the cost of the tariff. Reason is because domestic manufacturers cannot rapidly increase production due to varies factors, such as expansion of product facilities, raw material acquisition, access to additional capital, etc. This increase results in a gain for the government, a gain for domestic manufacturers, a loss for foreign manufacturers, and a loss for domestic consumers. International Economics 101.
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@Vorraboms When artificial restrictions, such as tariffs and quotas, are place on goods it produces a shift in the demand curve. Remember that price and demand are inversely related, therefore depending on the elasticity of the good in question a change in price can have a small or large effect. Since most goods are inelastic supply and demand tends not to fluctuate, so in order to secure additional short term profits domestic producers will raise their prices to match the cost of the imported product plus the tariff. This is standard international economic theory that is taught in the vast majority of higher educational institutions. You may have a basic knowledge of economics, but you don't have an advanced knowledge on the subject and it shows.
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@Vorraboms Your incredulity is perfectly on display, therefore I'm not going to argue with someone that ignores basic principles with regards to international economics. I suggest you read up on the subject or even take a course if your have the prerequisites. Things have changed since the 1990s...🤣😂🤣😂
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@Vorraboms Grasping at straws? I'm not taking the bait. The simple fact is that tariffs and quotas are artificial restrictions on supply resulting in a net loss due to the inefficiencies in consumption. I've presented very basic concepts, which can easily be verified, and you've dutifully ignored them. Stay ignorant, doesn't hurt me in the least...🤣😂🤣😂
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Trump implemented the tariffs as a way to appear tough on China while subjecting American consumers to a stealth tax. Biden kept them in place because of the revenue it generated why keeping up the tough on China facade. Most Americans are too stupid to realize they're being grifted.
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