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But! Once the prices go up because of some taxes, they never go as low as they were before. Thats no theory, thats life.
Say good bye, to the prices you see now, you will never see them again ;-)
Because the cost of goods continues to fluctuate wildly due to ongoing tariff wrangling that nobody asked for or needed. Also farmers can’t sell anything because retaliation has destroyed international demand (I’d say decimated but it’s way worse than reduction by a tenth)
> farmers can’t sell anything because retaliation has destroyed international demand Not true. At least not yet. Q2 agricultural exports were roughly flat to Q1 [1]. [1] https://fred.stlouisfed.org/series/B181RC1Q027SBEA
“Overall, export sales of this fall’s (U.S.) soybean crop are down 81% from the five-year average,” Brasher reported.
Spending nights figuring out which tariffs apply to which imported goods is surely a well spent time for any business owner. Yeah, complicated, costly and always changing regulations are great for doing business... /s
Because the cost of goods continues to fluctuate wildly due to ongoing tariff wrangling that nobody asked for or needed. Also farmers can’t sell anything because retaliation has destroyed international demand (I’d say decimated but it’s way worse than reduction by a tenth)
> farmers can’t sell anything because retaliation has destroyed international demand Not true. At least not yet. Q2 agricultural exports were roughly flat to Q1 [1]. [1] https://fred.stlouisfed.org/series/B181RC1Q027SBEA
> Repricing, though, isn’t as easy as changing a tag—in part because suppliers and big-box stores are engaged in an epic tussle over who will pay what. > Retailers, including Lowe’s and Home Depot, buy Thompson Traders’ wares and set the retail price themselves. And they have been reluctant to pay Thompson Traders more. It seems like this sort of scenario would benefit from some kind of risk protection, like insuranc…
Spending nights figuring out which tariffs apply to which imported goods is surely a well spent time for any business owner. Yeah, complicated, costly and always changing regulations are great for doing business... /s
Complicated, costly, and, as it turns out, illegal.
Earlier quoted context omitted.
It's because basic economic theory makes some really bad assumptions. It assumes everyone has the information they need, and sellers can instantaneously change prices in response to changes in demand or cost of production. Neither of which is true in the real world.
> basic economic theory makes some really bad assumptions. It assumes everyone has the information they need, and sellers can instantaneously change prices in response to changes in demand or cost of production This…is not true. What theory are you referring to?
Its a long time known flaw in economics. Im sure there are better models but i still agree with GP, the scientific field of economics is still a joke on par with psychology.
Spending nights figuring out which tariffs apply to which imported goods is surely a well spent time for any business owner. Yeah, complicated, costly and always changing regulations are great for doing business... /s
Complicated, costly, and, as it turns out, illegal.
The underlying issue is complete chaos and confusion caused by this situation, not just any specific actual Tariff or not.
> Repricing, though, isn’t as easy as changing a tag—in part because suppliers and big-box stores are engaged in an epic tussle over who will pay what. > Retailers, including Lowe’s and Home Depot, buy Thompson Traders’ wares and set the retail price themselves. And they have been reluctant to pay Thompson Traders more. It seems like this sort of scenario would benefit from some kind of risk protection, like insuranc…
So more middlemen to make the cunsumer pay even more, joy.