'An important feature of modern international trade is that most trade is in inputs, not final products. The classic caricature of international trade in textbooks of trading cloth for wine could not be further from the truth.' TARIFFS ADD TAX TO INPUT COSTS IN USA share.google/KdbxUMmRc4rW...
'Modern-day trade is about intermediate products that cross borders multiple times, with value added at each point in the production chain... ~56 percent of all U.S. imports in 2024 were intermediate goods' SO, TARIFFS ADD TAX TO INPUT COSTS IN AMERICA share.google/KdbxUMmRc4rW...
Trump Tariff Tax: 'In June 2018, the U.S. imposed tariffs on all imports of steel (25 percent) and aluminum (10 percent). Seven years later, these appear to have done little to reverse the 35-year decline in steel and aluminum production jobs in the U.S.' share.google/xRszev5aqBSu...