Are There Actual Signed Trade Deals?Posted By Jim Moscheck |
I heard on the local news radio that GM has lost $1B in profits since the tariffs went into effect. I'm sure the shareholders are thrilled about that.Originally Posted by Rod Kaufman"US Commerce Secretary Howard Lutnick said Thursday that the United States could soon generate as much as $50 billion per month in tariff revenues, as the new and expanded import levies begin to take effect worldwide."
“I think we’re going to be heading towards $50 billion a month in tariff revenue that no one’s talked about except for the president,” Lutnick told Fox Business in an interview this morning."
Really!? Where does he think this "revenue" is going to come from? It's going to come from the tariffs fees ultimately being imposed on and paid by American importers and exporters who will likely be passing the costs of doing business upon the american consumer. In other words, it's a real redistribution of american business profits into government coffers... I wonder if Rich Davis, who constantly complains about democratic "marxists", gets that?...