- cross-posted to:
- world
- cross-posted to:
- world
cross-posted from: https://lemmy.world/post/23416568
Summary
Donald Trump criticized Panama Canal fees as “ridiculous” and demanded lower costs or the canal’s return to the US.
In a Truth Social post, Trump also expressed concern about potential Chinese influence over the waterway, despite no direct Chinese control of canal operations.
The canal, transferred to Panama in 1999, is vital for global trade, handling 5% of maritime traffic.
Trump’s comments follow record revenues of $5 billion announced by the Panama Canal Authority. Panama has not yet responded to his statements.
Nah. Tariffs will just make consumers spend more money
Well that’s true
And its also true that it would encourage local manufacturing and imports from other countries (eg Bangladesh, India, etc)
I don’t think it’s as easy to spring up competitively industries foe things just because consumer have to spend more.
It’s somewhat ridiculous to pretend this will improve us domestic production. Clothes, smartphones, etc etc etc.
It’ll just make things mroe expensive. And who benefits from the working class having to spend more?