612
There's 'overwhelming evidence' tariffs have raised consumer prices, says Bank of America
(www.businessinsider.com)
this post was submitted on 03 Nov 2025
612 points (99.7% liked)
politics
26282 readers
5288 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Depends on your ideological camp. There's an anti-trade camp that thinks insourcing the entire US economy makes us more independent and improves our labor participation rate. There's also an anti-income tax camp that thinks the tariffs can replace the IRS. They're kind-of in tension, as more domestic industry would mean lower tariff revenues, while higher tariffs (to replace the income tax) would discourage the trade it is intended to tax.
Here's a list from June 2025
Would these plants exist without the tariffs? Probably. Trump's only been in office for ten months and new manufacturing plants take years to plan and build. But if we see a permanent GOP majority (or a Dem base that just chases the GOP's tail, like centrist Dems have historically done since Reagan), then tariffs will become entrenched and domestic manufacturing will have a real incentive relative to overseas imports.
But its still a juggling act between cost of labor/access to materials abroad and cost of production at home. What we've seen a lot of in the states is assembly plants - particularly in the automotive sector - where foreign car companies ship in parts at a low price and turn them into "Made In America" vehicles that sell at a high price.
We could see a lot more of that in the future.