Questions for the Webinar, page-55

it makes absolute sense if you understand how it works

the mechanical payment is made by the importer. but they get those funds from the US buyer of their products.

the misleading aspect is what trump keeps telling ignorant voters. ie he keeps implying its Chinese companies pay the tariffs. its true in a technical sense of who;se visa card register the transaction. But in effect its US consumers who pay the tariffs.

the only net benefit the US (or any govt) gets from tariffs in in how price affects demand -
- tariffed importes lift prices to offset tariff
- some buyers buy imports still
- some buyers shift to buying domestic products if they are cheaper

this is why the world spent 50 years dismantling global tariffs after they cause the great depression

its dumb economics but great for populist leaders who pitch to uneducated voters

tariffs main true value is if you want to grow a single industry - you can stop it getting flooded by existing offshore established producers.

other than that they are hugely counterproductive for everyone