Don’t buy into anti-tariff ‘news’
To the editor:
Interesting how people can become so excited over an event, major as it is and display such a lack of knowledge about what is happening.
The new tariff action by Trump is long overdue. China charges 67%, Japan charges 46%, South Korea charges 50% and the European Union charge 39%. These countries have almost no American automobiles while 45% of all the cars Americans buy are made by these countries. If those foreign cars average $40,000 that means that each year, we spend $286.2 billion on foreign cars.
Americans buy 15,900,000 cars each year at $40,000 that is $636 billion. We only sell $63 billion of American cars overseas and that predominantly to countries that do not make cars.
Why do other countries that make cars have no American cars? Because those countries double the cost of American cars with tariffs.
Compare $286.2 billion that we pay for foreign cars versus $63 billion for American cars that we sell overseas. We are essentially giving those countries hundreds of billions of American dollars every year.
Realize that this is only for cars. For all products, we export $300 billion less than we import.
I was surprised to look at Trump’s chart on what new tariffs he is adding. Surprisingly Trump is proposing tariffs that are only about half of what those countries have been charging us for decades.
Does anyone think adding more tariffs is a bad move? Sure, there might be pain for a short time but this will be a huge benefit down the road and the biggest one is more high-quality jobs for Americans.
Why wasn’t this done before? Lack of courage by past presidents and some politicians thinking that their favorite voter struggles with 2+2 so leftists’ fake news can scare people.
Note already Apple and many others are moving plants to America. We will have a construction boom and many new jobs.
The only way we can lose on this is if fake news convinces voters to panic causing them to put socialist back in office so we can continue to send money to other countries leaving America with more low-paying service jobs, a skyrocketing debt and more Judges like Boasberg on the bench helping terrorists to grow in our country.
Relax Americans. America is coming up roses.
John Benedict
Cape Coral