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Trump says his tariffs could bring in trillions in revenue. Economists disagree. (www.cbsnews.com)

submitted 10 months ago by throws_lemy@lemmy.nz to c/world@quokk.au

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[–] shawn1122@lemm.ee 4 points 10 months ago* (last edited 10 months ago)

When he applied tariffs to washing machines in 2018, people stopped buying. Demand and production decreased resulting in domestic job losses.

Now, not everything is not a washing machine, but that doesn't bode well.

Anyone who thinks this is just a shortcut to prosperity needs to look at history. In a country that expelled the Democrats due to affordability issues, this is not going to end well.