Tariff Talk

Tariffs; it's this year's inflation talk. I'm open to the idea of tariffs, particularly from imports on countries with lower labor protections and standards of living. I supported tariffs when Donald Trump was still a Democrat, reminiscing how import tariffs and excise taxes covered the full federal budget prior to 1913. Our import tariffs were, and still are, lower than those of most other countries; we were a total mercantile nation of shopkeepers, or more accurately, patrons of big-box stores. We were told as Americans that it was okay to import "low cost" goods, like plastic toys, kitchenware, and appliances; since we exported high-tech equipment like industrial engines and aircraft. Corporate greed, or the desire for greater profits, mean that imported goods aren't very cheap anymore, when it comes to big box retail. Bargains can still be found in marketplaces like eBay, where items are shipped factory direct to consumer. American manufacturers, in contrast to importers, carry the economic risk of capital equipment, and must expand their domestic market share, even at lower cost and profit margin. In leading export nations like South Korea and Japan, foreign goods are expensive. In Korea, M&M Candies, for example, are three times the price of the local Lotte brand, at similar quality. When we talk about reciprocal tariffs in the United States, and impose them, we're increasing the price of imports by fractions, rather than multiples- as we see in the retail shelves of other countries. I, being on a ship with room and board provided, may be protected from the direct costs of tariffs. I wonder, who is buying all those imports? It must be those Amazon Prime subscribers, the elite consumers, the upper-middle class bourgeoise who receive parcels of "stuff" every day to their doorstep. I eat American, my t-shirts and socks are made in America, so are my toiletries. Why worry about tariffs, I'll be fine! "Well, have you thought about people who shop at the dollar store? Prices are going to go up from $1.25 to $2.00, or something". This man at the dinner table was right, abrupt changes would hurt the economically vulnerable. Store shelves could be empty of moderate-priced goods; the Port of Seattle's containership terminal is eerily quiet. American capital must wait and see if this change in policy will be lasting. American manufacturing has been propped up by government purchases of cars, military equipment, and other items under Buy American clauses. There is less conviction, including among the Wall Street Journal set, that the protectionist policies will last beyond Trump's administration. Thus, no new factories at this time.