How Tariffs Hurt American Consumers and Farmers

The Trump administration decided to spice things up this morning by slapping 25 percent tariffs on imports from Canada and Mexico, and throwing in a new 10 percent tariff on imports from China just for fun. 

In response, Canada retaliated by hitting the U.S. with 25 percent tariffs on $30 billion worth of goods. Canadian Prime Minister Justin Trudeau made it clear that these tariffs are here to stay until the U.S. decides to play nice. If not, Canada is ready to whip out some non-tariff measures that will surely make Trump think twice. China also joined the party by imposing tariffs on a variety of American goods, leaving farmers shaking in their boots – Trump’s usual strong supporters.

The stock market took a hit, with the S&P 500 dropping by 1.76 percent, the Dow Jones falling by nearly 650 points, and the Nasdaq Composite down by 2.64 percent. That really great for those retirement accounts. Ontario Premier Doug Ford even threatened to cut off electricity exports to the U.S. if Trump’s tariffs go through, leaving 1.5 million Americans in the dark.

States like Louisiana, Pennsylvania, Florida, and Ohio, which helped Trump get into power, are now facing the consequences of his tariff tantrum. But hey, who needs affordable goods when you can have tariffs, right?

These tariffs are like a gift that keeps on giving – adding thousands of dollars to the price of a new car and overall expenses for consumers. And let’s not forget about 

Trump’s plan is just bad for American consumers.