I tend to think there should be some tariff on cheap imports because multi national companies are competing to bring the price of clothing and products down to the extent that governments have reduced tax revenue because retail prices are so low.
Low retail prices contribute to the cash drain on governments because there is less tax from lower company profits.
Trump is on some type of mission to cut the feet off international trade, he is erratic and populist. There is no real thought or policy. His policy is more shock value that any real plan.
He contradicts himself because his family have clothing ranges made in China. You could ask, do they really support his policy.
Considering the retail mark up has increased from 300% to nearly 1000% in some cases, wholesalers are often removed and manufactures are selling straight to the retail chains. The effect of a 10% import duty would have nearly no effect on inflation.
If you purchased something from China for $10 and it retails for $60, I'm not sure $1 tax would really hurt the market that much.
If this price was passed on to the customer you the inflation would be 1.6%
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