Letter: There could be some pain with tariffs
“Will there be some pain? Yes, maybe (and maybe not). But we will make America Great again. And it will be worth it.” That is a direct quote from Donald J. Trump. Who is going to feel the pain?
Not the man that dwells in the White House and pushes a button when he wants a Diet Coke. Not Musk, who gave Trump over $250 million to get him elected. Not any of Trump’s Cabinet, who all happen to be millionaires and billionaires. Not Bill Gates, Jeff Bezos, Mark Zuckerberg, and Tim Cook. Maybe they will feel pain in making a few million less this year.
Who will feel the pain? Maybe the butler that brings Trump his Diet Coke. The family that is struggling to buy a home. Maybe the police officers that defend the Capital. Maybe the retired couple that is barely surviving on their retirement funds.
Economists believe the Smoot-Hawley tariffs prolonged the Great Depression. The Smoot-Hawley tariffs raised prices on over 20,000 imported goods during the Great Depression. This Act promoted vindictive tariffs by other countries. China has already started with retaliatory tariffs. We may not be in a depression, but history has a way of repeating itself.
Diane Woolsey
Ogden