Most of us have known all along that American businesses are paying the tariffs that the president has levied on imported Chinese goods…and in many cases have had to pass along all or part of those tariffs as price increases on the goods that they sell to the American consumer. So we are paying the price.
And the president knows it too…although he hasn’t actually said it out loud yet…but actions speak louder than words:
The Trump administration said Tuesday that it would wait until Dec. 15 to impose tariffs on Chinese goods that were supposed to go into effect in September. Other items were removed from the tariff list due to health, safety and national security concerns.
Many of the items on the tariff list are popular holiday gifts. That’s a relief to retailers, which would either eat the added costs or pass them onto shoppers – neither a palatable outcome.
It also means Americans won’t see higher, tariff-inflated prices during their holiday shopping. Those who are traditionally last-minute holiday shoppers may want to skip procrastinating this year, though, and wrap up the shopping before the Dec. 15 deadline.
“I think the president wanted to avoid being the Grinch who stole Christmas,” said Mark Zandi, chief economist of Moody’s Analytics. “These delayed tariff hikes would have landed squarely on American consumers.”
“We’re doing this for Christmas season, just in case some of the tariffs would have an impact on U.S. customers. So far they’ve had virtually none,” President Donald Trump said in New Jersey before boarding Air Force One for an event in Pennsylvania.emphasis mine
Just in case these would have an impact on U.S. customers…well bullshit…we pretty much know that they will land squarely in our wallets.
But I am gratified that I wasn’t the only who noticed this:
The Footwear Distributors and Retailers of America (FDRA) is breathing a small sigh of relief as President Trump delays the implementation of additional tariffs on $300 billion of Chinese Goods.
“The announcement today that the Trump Administration will be delaying the additional 10% tariff on some footwear until December 1 is an acknowledgment that tariffs are indeed paid by Americans,” the group’s president and CEO Matt Priest said in a statement. “It is no coincidence that the Administration is allowing certain shoes to come in without raising taxes in hopes that prices do not rise at retail during the holidays. Our industry’s loud unified voice left a clear impression that shoe tariffs are already extremely high, upwards of 67.5%, and any further tariffs would directly raise costs on consumers and cost footwear jobs.”
Priest, also says while the FDRA is pleased with the decision to delay new tariffs on certain shoes, they are not satisfied.
I wish a few more business leaders would openly speak out about tariffs, their effect on American businesses, and their effect on American consumers. Trump supporters aren’t going to accept the truth from the Democratic candidates for president or even their local elected Democratic officials. But maybe the businesses that employ them or provide goods and services for them might prove to be a trustworthy source for the truth.
I am guessing many American businesses who are suffering under the continued weight of the tariffs are tired of ‘winning’. It’s time for them to speak up!