A tariff is a Federal tax paid by consumers. It takes money out our pockets and sends it to Washington D.C.T'm not a fan. Neither was Milton Friedman.
But it promotes job growth in this country in the areas directly affected by the tariff. However there will be a loss of buying power in the hands of the general public with all that money going to Washington D.C. This will depress sales and therefore employment in other areas. (We won't need as many HDTV salesman if we put a tariff on the import of Chinese and Korean TVs.) OTOH, we will need to add staff at the Treasury department to keep track of the tariff schedules and collections.
So there are pluses and there are minuses. Looking at just the positive aspects of the Trump Tariff Policy is a big mistake but the opposite is true as well.
I think Trump will get some power to try out his tariff ideas. But I seriously doubt that he will get his 35%. I would bet on something closer to 10% with some typical restrictions that Congress just loves to put on everything they touch.
An interesting experiment. We'll see how it turns out. I hope it proves successful but I'm really not confident that it will. Tax reductions and the elimination of oppressive rules and regulations will (IMHO) have a much bigger impact on the economy and employment.
The tariff is on American companies that try to have it both ways, not south korean TV’s.
“But I seriously doubt that he will get his 35%”
He can do it with the stroke of a pen.