Everyone hates tariffs but President Trump likes them:
10 examples why tariffs shield domestic industries from foreign competition and encouraging consumers to buy domestically produced items:
Light Trucks: Since 1964, a 25% tariff, known as the "Chicken Tax," has been imposed on imported light trucks to protect domestic automakers.
Washing Machines: In 2018, tariffs starting at 20% were placed on imported washing machines to support U.S. manufacturers like $Whirlpool(WHR)$ .
Solar Panels: Also in 2018, a 30% tariff was imposed on imported solar panels to promote domestic production.
Steel Products: A 25% tariff on imported steel has been applied to support the U.S. steel industry, affecting various consumer goods made from steel.
Aluminum Products: Similarly, a 10% tariff on imported aluminum aims to bolster domestic aluminum producers, impacting products like beverage cans.
Motorcycles: In 1983, a 45% tariff was imposed on imported heavyweight motorcycles to protect $Harley-Davidson(HOG)$ from foreign competition.
Dairy Products: Various dairy imports, such as certain cheeses, face tariffs to support U.S. dairy farmers.
Textiles and Apparel: Imports of clothing and textiles are subject to tariffs to protect domestic textile industries. United States Trade Representative
Footwear: Certain types of imported footwear are taxed to support U.S. shoe manufacturers.
Automobiles: Tariffs have been applied to imported cars to encourage consumers to purchase vehicles made in the U.S.
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