Why Trump’s Canada tariffs could hurt New Jersey consumers

I support tariffs in principle as a way of raising revenue and protecting American made products from low cost 'slave labor' production.

That said, tariffs will raise costs for consumers, so without an accompanying reduction in income taxes or other fees to offset the cost, it's not a positive move.

The latest move by the Trump administration against Canada is problematic.

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Canada tariffs could hit Americans in unexpected ways

First of all, the tariffs are being imposed on about $20 Billion in goods.

I stopped into Trader Joe's yesterday on my way back from Newsmax to grab a few tomatoes for my new favorite appetizer, 'Pan con tomate,' and noticed that the selection of tomatoes was from Canada.

Never really thought about imports from Canada before this news to be honest.

Then after a little research, you find that about a quarter of the softwood lumber used in the U.S. comes from Canada. When you slap a tariff on that, the price of building or renovating a home goes up.

Same with food on the table.

Although the current tariffs will not impact lumber, Canada is vowing retaliation. A trade war with our friendly neighbors to the North isn't in anyone's interest.

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Who really pays when tariffs raise revenue?

The estimated revenue is potentially in the billions which is only one side of the equation.

Who is really paying for the revenue haul?

Consumers.

And without any balanced relief on other taxes this is a classic move by the elites to have an upper-level fight and working and middle-class families foot the bill.

This is on the heels of the temporary beef import scheme to flood the market with cheaper beef from foreign countries to bring down costs.

Of course, this is not helpful for local farms trying to sell their beef and doesn't address the underlying problems that ranchers continue to face.

Let's start by lowering the regulatory burden and raising the tariffs on imported meat.

We should be replacing income tax revenue with tariff revenue while rebuilding American production when it comes to manufacturing and farming.

This latest performative play by the White House will accomplish neither.

The post above reflects the thoughts and observations of New Jersey 101.5 talk show host Bill Spadea. Any opinions expressed are Bill's own.

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