[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Ian Miles Cheong [@stillgray](/creator/twitter/stillgray) on x 1.2M followers Created: 2025-07-12 12:59:27 UTC Many Americans fail to grasp that Trump's tariffs are passed directly to US consumers via higher prices on imported goods. This means paying extra for the tariffs themselves, plus additional sales taxes on those inflated costs, creating a double financial burden for households. Tariffs are economically shortsighted because they act as a regressive tax on consumers, not just foreign producers. Importers absorb the duties but shift most costs to buyers. They also distort markets, reduce choices, invite retaliatory trade wars, and shrink GDP while cutting wages. Mega corporations like the ones backing Trump can weather the storm and just pass the fees onto customers or by laying off workers while executives keep their fat checks. Small ones are forced to shut down or consolidate. While proponents claim tariffs protect jobs and generate revenue, these benefits are overstated and dwarfed by broader harms. Protectionism stifles innovation, harms productivity, and ultimately hurts everyday people more than it helps, making tariffs an inefficient policy tool. Ask yourself how well it’s worked out for African countries.  XXXXXX engagements  **Related Topics** [mexico](/topic/mexico) [donald trump](/topic/donald-trump) [tax bracket](/topic/tax-bracket) [tariffs](/topic/tariffs) [Post Link](https://x.com/stillgray/status/1944018768121741757)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
Ian Miles Cheong @stillgray on x 1.2M followers
Created: 2025-07-12 12:59:27 UTC
Many Americans fail to grasp that Trump's tariffs are passed directly to US consumers via higher prices on imported goods. This means paying extra for the tariffs themselves, plus additional sales taxes on those inflated costs, creating a double financial burden for households.
Tariffs are economically shortsighted because they act as a regressive tax on consumers, not just foreign producers. Importers absorb the duties but shift most costs to buyers.
They also distort markets, reduce choices, invite retaliatory trade wars, and shrink GDP while cutting wages. Mega corporations like the ones backing Trump can weather the storm and just pass the fees onto customers or by laying off workers while executives keep their fat checks. Small ones are forced to shut down or consolidate.
While proponents claim tariffs protect jobs and generate revenue, these benefits are overstated and dwarfed by broader harms. Protectionism stifles innovation, harms productivity, and ultimately hurts everyday people more than it helps, making tariffs an inefficient policy tool.
Ask yourself how well it’s worked out for African countries.
XXXXXX engagements
Related Topics mexico donald trump tax bracket tariffs