I'm retarded, can someone redpill me on how Trump's tariff plans are supposed to be good for price reduction and curbing inflation? I've only read that it will drive up prices for the consumer, I haven't seen a refutation of this no matter how much I've looked. I like a lot of things on Trump's platform (like getting rid of tranny shit) but my number one hope for him was to fix the economy and I can't really figure out how he plans to successfully do that.
I'm also retarded, but my understanding is that - with some exceptions - tariffs are not meant to decrease the cost of goods.
Rather, it is supposed to make American goods able to compete with e.g. Indian and Chinese goods (or German, Japanese, whatever depending on what it is).
In the case of the former two they often use essentially slave labor and sweatshops to produce goods that are incredibly cheap. The US then imports these and sells them at a low cost to American consumers. Remember all those clothes you buy that rip within a couple wears? Guarantee the tag says made in China.
Because American companies aren't allowed to use slave labor, pay people below minimum wage, unsafe factory environments, etc this means it's pretty much impossible for American goods to compete with Chinese goods because they're necessarily more expensive.
This means that factories in the US may ultimately close down or may not be able to scale up. That means less jobs in the US, more unemployment, and more reliance on cheap Chinese goods because you can't afford anything else.
Tariffs add cost to imported goods, increasing foreign good cost for consumers, making American goods worth considering if the prices are a bit closer. They also make the government some money which gives some wiggle room for e.g. lowering corporate and income taxes.
But, tariffs, along with lowered corporate taxes for companies producing goods in the US, and decreased regulations (within reason) have another purpose. The aim is also making it easier, cheaper, and ultimately more appealing for factories to open up in the US rather than in China, Mexico, India, etc. Yes workers will have to be paid a minimum wage and can't be worked to death but no tariffs, lower taxes (I believe Trump was floating a rate thats one of the lowest around), and you get access to the American market a little bit easier. This means even non-US companies may want to come to the US to open up shop.
So the aim is more at increasing jobs and helping US companies compete domestically.
For decreasing prices it seems like most of that is expected to be from decreasing energy costs (already discussed previously why this matters, basically everything you make you have to transport especially in a country as massive as the US) and decreasing regulations.
It looks like RFK Jr is also interested in breaking up big ag and making it easier for smaller regenerative farms to be more successful which may make buying local easier and - if they get rid of some of the centralized slaughterhouse requirements - may reduce costs by allowing farms to do their own slaughtering and by reducing transport and cost of using usda facilities.
So it is more of a multi-prong system by helping US companies do better which helps US consumers have more money by more access to work, decreasing corporate and income tax, reducing costs by reducing energy prices, and opening up potentially cheaper options via reducing regulations.
And of course deporting a bunch of illegals decreases prices further via reducing strain on housing demands and competition for jobs. Also this decreases strain on welfare systems too, not to mention hospitals and schools.
Hopefully I'm at least somewhat correct on this read, or someone can correct me.