In an effort to balance trade with foreign countries, and to bolster the United States’ economy, President Donald J. Trump and his advisers have devised a scheme to bring overseas production of American products home by introducing tariffs.
The Trump administration announced Tuesday that tariffs on consumer goods spanning electronics would be delayed from Sept. 1 to Dec. 15.
The goods in question include cell phones, laptops, video games, toys, computer monitors shoes and clothing.
So in the least, consumers will get a break on those tariffs for now — as surely these companies will shift the cost of tariffs onto the consumers — for back-toschool shopping.
With the delay of the tariffs shifting to 10-days before Christmas, we can expect to pay a little more for that device, toy, or new shoes and other articles of clothing. After all, our society puts a lot of stock in possessing the newest technology, video games or sneakers.
The United States Trade Representative announced Tuesday’ s decision as one that took “health, safety, national security and other factors” as reasons for pushing back the rollout date on the tariffs.
Shortly after the announcement stocks, Apple, Best Buy and other electronics- based merchants rose significantly on Wall Street.
Apple, whose stock shot up nearly $5 after the announcement, produces the majority of its iPads, Macs and iPhones in China, then imports the devices to the United States.
Trump stated earlier this year the company would not be immune to the new tariffs, calling Apple and other companies to bring those jobs back to America.
People may or may not agree with the president’s policies, but this one is being deployed in an attempt to bolster the country’s economy and bring manufacturing jobs back.
With the passage of NAFTA and other trade agreements since in the 1990s, many companies have shifted their operations to Mexico, China and other exotic places in an attempt to seek cheaper labor and therefore increase profit.
Many Americans mourn the days of going to a store and seeing the “Made in the U.S.A.” label and want that returned.
If the president can manage to bring those jobs back to the United States, that will truly be a big victory.