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Reply to "Trump tariffs: ruin U.S. economy until 2040"
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[quote=Anonymous]IMO, the reason the US did not impose a lot of tariffs on goods from third world countries is because of America's insatiable appetite for cheap goods. We got used to it. Some 70% of our economy is driven by consumers. It's not liberals or conservatives. It's Americans. We are probably the most materialistic country in the world. I have friends/family in Europe and Asia, and our consumer spending is way higher than theirs. I will say that some of the other countries are becoming just as materialistic as we are, though. Wages in the US is actually a lot higher than the vast majority of other countries. At the same time, the cost of college and healthcare is exponentially larger compared to those other countries. That's not going to change anytime soon. So, now we will have higher costs in consumer products, college and healthcare. Our standard of living will be lower, more on par with Europeans.[/quote]
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