Reply to Foods that will go up in price thanks to Trump's tariffs

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Reply to "Foods that will go up in price thanks to Trump's tariffs"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You shouldn’t need to buy the majority of these items from another country. Many of these grow locally and most grow somewhere in the US. I can live without mangoes and tequila.[/quote]

Nothing is going to go up in price. Taking $3 billion per day out of the economy is inherently deflationary. But it won't matter because you won't be able to afford that anyways because it will come from your pocket too :)

https://news.bitcoin.com/elon-musks-doge-saves-federal-government-1b-daily-now-gunning-for-3b/[/quote]

Okay so as an example taxing cigarettes does not make them more expensive :roll: [/quote]

Assume that there is just one good in an economy. If there are $100 dollars in an economy, and the price of something is $10, you can buy 10 of them. But let's say, there are only $80 dollars in an economy, at $10, you can only buy 8. So if you need to sell all 10, you will reduce the price to $8.

Now, let's say, we add a tariff of $2. What is the price of that good?

You are reading the posts of a very bored economist trying to write a book on a very rainy Friday afternoon. I can explain further if you'd like?

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