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cpamomfromtexas

(1,396 posts)
Thu Nov 28, 2024, 01:09 PM Nov 2024

Once Drumph's tariffs take place. Questions

Where do the funds go? I will assume to the government.

Could 45 see them as funds to pillage?

Who will make sure they aren’t stolen (by Trump?)

9 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies

moondust

(20,782 posts)
4. That was before globalization.
Thu Nov 28, 2024, 01:27 PM
Nov 2024

It probably worked somewhat, though it also started retaliatory trade wars. Since the 1980s supply chains, etc., have become so globally interconnected that tariffs will likely hurt some U.S. products as well.

rso

(2,543 posts)
2. Tariffs
Thu Nov 28, 2024, 01:12 PM
Nov 2024

Actually, tariffs will not bring additional funds coming in to the USG, consumers will be paying and vendors will receive the funds.

onenote

(44,961 posts)
5. The tariffs ARE paid to the government by the US purchasers, who will then recoup those payments by raising prices
Thu Nov 28, 2024, 01:33 PM
Nov 2024

This is why the Harris campaign described the tariffs as a sales "tax".
You may want to modify/clarify your post.

rso

(2,543 posts)
6. Tariffs
Thu Nov 28, 2024, 02:07 PM
Nov 2024

Importers pay higher prices for imported goods which are then passed on to the consumer. Any additional funds coming in to the USG are very modest.

onenote

(44,961 posts)
7. The amount coming in to the government is equal to the amount of tariffs paid
Thu Nov 28, 2024, 02:21 PM
Nov 2024

As a practical matter they are no different than ant tax imposed on a company in that they produce revenue for the government and increase the costs incurred by the entity paying the tariff which then has the choice of eating those costs or passing them, in whole or part, to consumers.

keithbvadu2

(40,915 posts)
8. Who gets the money from tariffs?
Thu Nov 28, 2024, 02:46 PM
Nov 2024
https://www.democraticunderground.com/100219698929

Some Trump Voters Already Regret Their Decision Amid Concerns Over Tariffs, Job Cuts, and Rising Cost

Who gets the money from tariffs?

A tariff is a tax, usually paid by the customer.
Sometimes by the selling country but not often.
It is not called a tax, but my wallet does not know the difference.

https://tinyurl.com/25cw2c5b

A quick primer on tariffs: They’re a tax on imported goods — clothes, shoes, toys, car parts, appliances, you name it. But the extra money does not come from the foreign companies that produce those goods. The American company doing the importing pays the money to the US Treasury.
(That means the gov't.--- the administration.)
They don't seem to mention that they are collecting more taxes.
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Need a bumper sticker...

Have you paid your new Trump sales tax today?
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