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Message: <blockquote data-quote="fishtm2001" data-source="post: 6096386" data-attributes="member: 54375">Trumpers are claiming that tariffs1. Won’t increase prices, because foreign producers will absorb the cost2. Will cause a large shift in U.S. demand away from imports to domestic production3. Will raise huge amounts of revenueIf you think about it for a minute, you realize that(1) is inconsistent with (2): If prices of imports don’t rise, why would consumers switch to domestically produced goods? At the same time, (2) is inconsistent with (3): If imports drop a lot, tariffs won’t raise a lot of money, because there won’t be much to tax.Digby</blockquote>