This will be passed directly onto consumers who certainly haven't seen meaningful wage increases in decades. So much for small government not meddling in my life.
Don't think anyone here said they were feeling optimistic. I merely pointed out how tariffs can encourage more domestic production ultimately leading to a greater demand for labor, more jobs and ultimately higher wages. I expect that if left in effect these things will eventually happen assuming we don't enter a recession in the near term. I also find it a bit hard to believe that a 25% tariff on steel would result in 50-75% higher costs on the end product. Not saying these products aren't that much more expensive, but that factors other then the tariffs are likely at play. I also feel the pain of the tariffs as I had to buy a new refrigerator less then a year ago, and will need to buy a new clothes dryer here in the coming weeks. Needless to say I'll feel some of the sting of those higher prices, but it's something I'm willing to endure if it means there's at least a decent chance we will restore at least some of our lost manufacturing jobs and not get shafted in a trade agreements with other countries.
Now if it was up to me I'd just assume do what many other countries have done which is use a VAT to cheat at trade instead of tarrifs given the income tax system we have in this country is a mess. Sadly, I don't think that's going to happen, but at least we aren't stuck with the status quo we had for over 20 years that hollowed out manufacturing and part of the American middle class with it. Don't get me wrong, I'm not saying the tariffs will work, but at least someone is finally trying to address the fact we were getting screwed.