Trump’s tariffs are turning friends into enemies, including his former allies at Fox News. One would think that the conservative news network would show some loyalty to the great orange elect, considering that he hired half of them to work in his cabinet, but one would be wrong. Very wrong, according to Julie Banderas.
Fox News host Julie Banderas ripped into Trump’s tariff plans, which include a 25% increase on good coming in from Mexico and Canada and a whopping 35% and up for all good coming from China. According to small-business expert Gene Mark, any small business “buying American” and “selling American” wouldn’t be hit by the tariffs. Banderas was not convinced.
“Let’s be realistic,” said Banderas of Mark’s wide-eyed economic optimism. She later went on to say ““A lot of American companies do not buy American. They do rely on a lot of merchandise that is purchased from other countries,” in a video posted online by Mediaite. “If Americans are forced to buy American,” she added “it’s going to cost more ultimately.”
“Who’s going to pay for that?” she asked, before answering her own rhetorical. “We are.” According to economists, she’s right. Trump tariff’s are a bad idea. Inflation is likely to increase, along with the price of goods. Coupled with the tax hit that everyone who isn’t America’s 5% richest is set to take on the chin and the massive inflation-skyrocketing price tag of Trump’s “mass deportation” plan, and an economic shitstorm is a-comin’ on the horizon.
According to Banderas, it will be the economically beleaguered taxpayer that shoulders the financial burden of Trump’s tariffs. “We are going to be buying the merchandise that they are going to have to raise the costs on because they’re not going to be buying from foreign countries,” said Banderas. “So ultimately, it does come down to the taxpayer dollar.”
According to a recent survey from University of Chicago, 90% of economists agree that a “substantial portion” of the consumer’s dollar will be spent on tariffs to cover the price of certain goods. How many goods? According to supply chain management expert Robert Handfield, it will be a “very long list.” “Apparel and footwear is almost all produced in China and Mexico. Computers and electronics are also produced in China and Mexico,” said Handfield, as well as “almost all the toys” shoppers buy on Christmas.
Dana Peterson, chief economist at The Conference Board was quick to point out the inherent contradiction of Trump’s tariffs, and how he somehow managed to convince half of the nation to vote against there economic interests. Most people don’t understand that if you impose tariffs, that actually raises prices,” she said. It’s not uncommon for people to vote based upon things that are not essentially associated with their economic good, right?” Right you are, Dana. Trump based his campaign around promises to working class Americans, and in doing so, was able to syphon away support from the Democrats. The economy was the most important issue in the 2024 election for over half of the nation’s voters, and somehow, Trump was able to convince those voters that his economic plans were superior.
Sadly, millions of Americans will figure out the hard way that Julie Banderas was right. That despite Trump’s campaign promises towards the working class, those same people will be footing the lion’s share of Trump’s economic bill. It’s ironic, and the joke is on all of us.
Published: Dec 4, 2024 07:53 am