WHAT do Trump’s tariffs mean for me? How will they affect my family? What will they mean for the country as a whole? We answer in three words.
How will Trump’s tariffs affect the world?
It’ll be poorer.
And America?
Much, much poorer.
But what about their effect on the UK economy?
We’ll be poorer.
Even though Brexit means we’re only getting tariffed at ten per cent?
Poorer plus poorer. Equals poorer. As in Brexit made us poorer, so will the tariffs and therefore we will be doubly poor. It’s not a complicated equation.
So my family personally will be able to afford less?
Which part of ‘you’ll be poorer’ did you fail to understand? Yes, just like with Brexit, you may not notice any immediate effects but everything will cost more, the country as a whole will have fewer jobs, they’ll be badly paid and we’ll continue our 17-year downward slide.
But that’s not fair.
Since when did being poor have anything to do with fairness?
How can I avoid becoming poorer?
Be rich already.
Can anything be done to mitigate the effects of the tariffs?
Not a lot. They’re not based on any pre-existing tariff barriers; you’ll be surprised to learn Trump was lying about that. They’re based on trade deficits, ie. how much more stuff American buys from us than we buy from it. We don’t have one. But are tariffed anyway.
So because Fox News-addled Americans elected a criminal insurrectionist with an economic understanding of the world based on the ‘f**k you, pay me’ dialogue from Goodfellas, I…
Will be poorer.
Can I blame Keir Starmer?
Certainly. Who would you rather elect, Trump’s close friend Nigel Farage or Trump-praiser Kemi Badenoch?
Will this all end when he’s no longer president in four years?
You think he’s going?