alt Hacker NewsThis would be a valid concern if businesses got $1 in additional tariff costs and passed on $1 in price increases. This categorically did not happen, and businesses absorbed the vast majority of the blow through both stockpiling and taking the bullet.
Prime example is Mercedes. The RRP for post-tariff Mercedes vehicles was identical to the pre-tariff RRP.
Food prices also rose significantly less than the tariff increases.
Importantly, journalists in media, classically inept at any economic analysis, implied that 10% tariff = 10% RRP rise. They never corrected themselves, nor for the economists who falsely claimed the economy would collapse.
When you pay $10 for a widget at the store, the cost price of that widget is likely $2. A 10% additional tariff (if passed along fully, it wasn't) would mean the widget goes from $10.00 to $10.20.
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> Importantly, journalists in media, classically inept at any economic analysis, implied that 10% tariff = 10% RRP rise. They never corrected themselves, nor for the economists who falsely claimed the economy would collapse.
It's also pretty vague without any examples of what specifically deserves corrections.
> Importantly, journalists in media, classically inept at any economic analysis, implied that 10% tariff = 10% RRP rise. They never corrected themselves, nor for the economists who falsely claimed the economy would collapse.
Lovely strawman.
> journalists in media, classically inept at any economic analysis
It’s just the NYT. Let’s not demean the rest of the media for the faults of the NYT.
Zero businesses passed on the additional costs onto the consumer? None?