JamGosBTC on Nostr: It boggles my mind how people don't understand trade deficits. When the US has a ...

It boggles my mind how people don't understand trade deficits. When the US has a trade deficit with Country X, that means the US (and therefore its consumers) are buying more goods from Country X than US producers and sellers are selling to that Country X. All a tariff does is make those goods more expensive for US consumers that want the goods. So sure, Country X suffers to some extent, but so do the US consumers that want those goods because it's the end consumer inevitably paying the tariff.

I hear some of the ridiculous things people say about tariffs and always think: