Posted 4/2/2025

Trump deemed April 2, 2025, Liberation Day. This is the day that tariffs were increased on a lot of America's trading partners. China was among those taxed the heaviest. A tariff, by definition, is a duty imposed by government on goods imported into a country, used to regulate trade, protect domestic industries, and generate revenue. President Trump explained the need to impose tariffs because of his desire to increase domestic productivity and bring jobs back to the United States. This may have also been an attempt to stop the bleeding on America's trade deficit, which was about 920 billion dollars in 2024 alone. A lot of American companies do business overseas for a variety of reasons, but probably foremost among them are cheaper labor costs and higher profit margins. Levi Strauss & Company has much of their clothing manufactured in Bangladesh, China, Mexico, and Vietnam. A significant portion of goods sold at Wal-Mart are made overseas. Apple's iPhones are manufactured in China. Nike makes their shoes in China and Vietnam. Of the companies that manufacture products outside the US, the list is long and goes on to include even Ford and Harley-Davidson. Had Americans made these goods, many factories and jobs would have remained. Some American companies went out of business because they couldn't afford to compete with goods manufactured abroad. A prime example is that of domestic cotton, where production is being obliterated by competitors from outside the country... Click Here.

Also, had many Americans known the degree to which American goods were being taxed, these additional tariffs may have taken effect long ago. The taxes imposed on American goods make them unattractive to consumers in foreign markets. To view the reciprocal tariff chart... Click Here.

Some say this has started a trade war. Retaliation from other nations that trade with the United States has been anticipated, and consequently, the stock market took a hit due to numerous selloffs. Economists believe additional tariffs will result in unaffordable prices for the American consumer. There is a belief that Americans have become dependent on foreign-made goods, which has created vulnerabilities in the supply chain, among other issues. President Trump declared this to be a national emergency... Click Here. Tariffs may make goods manufactured overseas comparable to those produced domestically. For a list of some goods made only in America... Click Here or Here.