Tariffs are paid by the citizens of the country imposing tariffs, not by the citizens of the country producing the products upon which the tariffs are levied. The term trade deficits is a misnomer. Every countrys trade is always in balance. Trade deficits do not mean the US no longer produces anything to export. The US is the worlds second largest manufacturer and the worlds second largest exporter of manufactured goods. Trade deficits reflect
Consider the following: Tariffs are paid by the citizens of the country imposing tariffs, not by the citizens of the country producing the products upon which the tariffs are levied. The term trade deficits is a misnomer. Every countrys trade is always in balance. Trade deficits do not mean the US no longer produces anything … Read more