Well, howdy there, internet people it spell again. So today, we're going to talk about

Trump's tariffs continuing to cost you after they're gone. It's official now. The U.S.

government is admitting that Americans are paying for the tariffs. The New York Fed put out a report, saying

that depending on what period in time you're looking at, last year Americans paid somewhere

between 86 and 94% of the tariffs. In short, if you believe that foreign countries were

paying for you, Trump tricked you.

Every economist said this is what would happen. A tariff's whole job is to raise prices in the

country imposing it. That's why widespread tariffs are bad. But now we've got a question

that's probably pretty important to address, because the politicians

will likely mislead you about this later.

Quote, even if tariffs were cancelled today, prices would not come back down to pre-tariff levels

due to price stickiness. Do I have that right? If that is correct, then why would it even

matter to the average person if the tariffs get removed or not? Considering the prices we pay

aren't going to come down one way or another. First, yes, you have that right. Price stickiness is real, and it will definitely be

at play here. There will be a video below for more information, but the short version is,

you already told companies you're willing to pay this much. So why does it matter? Let's say that currently U.S. Company Unlimited Imports

is buying a box of widgets for $100 in CountryX. They import them and pay a 50% tariff.

So the box of widgets, it's $150. By the time it gets to the retailer and you're paying the price,

it's $300. If the tariff goes away, the retailer is probably still going to charge you $300,

because you've shown all this time that you'll pay. But the U.S. company saves money,

and the retailer makes more money. Maybe they open more stores,

put more people to work, or give their employees a raise. Okay, that last one was a stretch,

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