Slaughter Lam

I continuously read about American business owners paying tariffs. Or American consumers paying higher prices.

Over 70% of Americans have never left the United States. I personally don’t blame them. Yet, when it comes to this issue of tariffs. Yes, you pay to import a foreign good. No one is forcing you to do so. Ideally, you should select local goods, as does the rest of the world.

The higher cost of the foreign good creates the potential market for domestic production if the market is there - the United States has the biggest market.

Consumers will ask themselves if something really extraordinary that I’m willing to pay for because it exceeds what can be found locally. That’s a good thing.

Assuming you import a foreign good, hopefully the opportunity cost is worth it.

This is not about isolationism or protectism; this is about creating parity and less of an arbitrage for foreign trading partners that manifests itself in their trade surpluses.