Roger Marshall, recently sent out an email to Kansans, to educate them on the “Myths of Tariffs”. In his carefully crafted propaganda message, Marshall uses half-truths and misleading statements to make tariffs seem like a good thing for Kansas farmers and ranchers. What Marshall doesn’t mention is that when the average Real Kansan goes shopping at a local Walmart, over 60% of the store’s goods are made in China.
FACT: Tariffs lead to higher prices, possible retaliatory tariffs, market volatility and uncertainty, discouraging investments and potential slowdown of the economy .
FACT: Tariffs can lead to higher prices for imported goods and potentially reduce the variety of products available if importing becomes less profitable. This can increase the overall cost of living.
Increased tariffs on China = higher prices at Walmart and every other retail outlet in the country as manufacturers pass along tariff costs to YOU.
FACT: Businesses, particularly small businesses, face higher expenses for imported materials and goods, potentially affecting profit margins. And may be forced to raise prices to offset tariff-related costs. YOU PAY MORE!
FACT: tariffs can negatively impact economic growth by raising costs for businesses and consumers, slowing spending, and potentially prompting retaliatory measures from other countries. They can also contribute to inflation by increasing the cost of goods and services. YOU PAY MORE!
Tariffs can reduce the supply of certain goods by making it less profitable to import them. This reduced competition can allow domestic producers to also raise their prices, further impacting consumer costs. YOU PAY MORE!
When inflation is high, the cost of goods and services rises, reducing consumers’ purchasing power. This can lead to decreased consumer spending, negatively impacting businesses and potentially causing a slowdown in economic growth.
In the 1970s many of us witnessed a period of stagflation in the US, partly due to the oil embargo which caused oil prices to quadruple. This led to soaring inflation, high unemployment, and ultimately, a recession.
It is well known that the most impacted by recession are men, black and Hispanic workers, young workers, and for less educated workers. As usual, Roger Marshall has got it all wrong.
