“Imported produce isn’t just nice—it’s essential,” reads a tweet published by the Cato Institute. “Yet tariffs could hike food prices and cut variety, leaving Americans to foot the bill.”
Imported produce isn’t just nice—it’s essential.
Yet tariffs could hike food prices and cut variety, leaving Americans to foot the bill.
Discover the impact with trade policy expert @scottlincicomehttps://t.co/ivx2HT7KdG pic.twitter.com/AnwSG2iL1I— Cato Institute (@CatoInstitute) February 2, 2025
Tariffs on imported goods could cause some goods to be more expensively available in the United States than otherwise. Thus, it is logical that the tariffed goods could cause an increase in the price of such goods and could eliminate a lot of variety. Without tariffs, the imported goods supplement, without the taxation at importation, what is produced in the U.S. Thus, it is logical that non-tariffed imported goods could help keep prices from rising higher than otherwise they might and add to the available variety of goods.
The idea of tariffs is sometimes used politically in relation to protecting U.S.-based producers, and thereby protecting U.S. jobs. Perhaps there is a correlation, but tariffs need to be considered carefully before being employed as a means of protection. Abundance may be a healthier means of providing for the economy as a whole and could also benefit more Americans. Some people may not want to use foreign-made products or eat foreign-produced food. That is why there are options available and price levels to accompany them.
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We are in a period of high inflation, so it stands to reason that most anything that benefits the consumer is the policy way to go. Perhaps imports should not be considered, automatically at least, as poison for U.S. producers and businesses. The opportunity to compete is available at all times, and it is also possible that the items imported, particularly raw materials, could aid in production, both as a function of production and the cost thereof, as well as consumption. The notion that U.S. businesses cannot succeed without the government stepping in and slapping tariffs on imported goods is a tough one. On the other hand, such tariffs could very well leave consumers, as the Cato Institute tweets, “To foot the bill.”
