An Encounter on Tariffs

I met a fellow earlier today who, with a partner, owns and runs a company that imports a wide variety of goods into the United States from China.

I asked him, naively, how tariffs are affecting him.  He said, “Well, until recently, taxes on our goods were 3.5%; now they’re 45%. I pass most of this this on to my (retailer) customer, and he passes it on to you.  If you’re wondering why the price of a stick of deodorant has just gone through the roof, you’ve just figured it out.”

In retrospect, I shouldn’t have brought it up in the first place.