Trump Announces 30% Tariff on Washing Machines.
Peter Schiff explains that tariffs are a tax on Americans:
While imports and exports will undoubtedly suffer, it is unclear whether the intended benefit, an increase in domestic jobs, will manifest in the age of automation. It is also to note that during a trade war, China (they've already vowed retaliation) will need to hold less dollars and might be inclined to to discontinue investing in U.S. Treasuries. This could cause inflationary pressure that would force the FED to raise interest rates. A trade war could potentially unbalance an already tenuous relationship between The U.S. and the East, leading to hot war.
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@dingle how's about the tariffs on brainwashing machines?