"Six months into the experiment, with more tariff announcements likely in the coming days, the economy hasn’t crashed. Inflation has ticked up but not soared. Consumers aren’t finding empty shelves.
"As Trump promised, the tariffs have brought tens of billions in extra revenue to federal coffers. That is a significant sum of money, but not enough to replace income taxes in the way Trump has suggested."
I think the idea that tariffs could replace income tax was a pipe dream. Still, the article discusses the dramatic increase in revenues from higher tariffs, and admits that so far, importers or retailers are eating most of the price increases caused by tariffs. This suggests to me that competition from domestic producers or lower-tariff countries are preventing them from raising retail prices.
I buy carbide endmills more often than I would like. They are brittle and I sometimes push them through material faster than I should. I try to buy Taiwanese or American. The last PRC 1/8" carbide endmill I bought is now $21.99. The US made Kodiak that I just bought was $11.99.
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