Dear Editor,
Why should it matter if Mr. Walter is retired or on a fixed income? Essentially these are both the same thing. As you tell Mr. Walter “Be patient as tariffs will work for all of us!” I say that might or might not be the case, The President did say there would be pain before gain!
On Friday, May 16 Walmart announced it will raise prices on products because of the tariffs. They said they cannot afford to absorb the increases caused by the tariffs. How long before the other large chain stores like Target, Costco, Home Depot and Lowe’s do the same? They are waiting to see how they might mitigate raising prices. The President is telling the companies to just absorb the costs! Something that none seem to care about doing.
A lot of people do not understand trade deficits or tariffs at all. Simply stated: A country imports more than it exports there is a trade deficit. A tariff is a tax placed on imported or exported items and the consumer pays the tax. I learned about them when I was in 5th grade history class that was in 1962. I bet they still work the same way!
As my Dad used to say “You can’t predict the future, so just wait and see what tomorrow brings.”
Susan Stone
