Trump says that the U. S. made trillions in tariffs, so where's that money at?

[sage2021]

I remember when tariffs were first implemented, shoes especially had outrageous shipping costs. eBay used to have free shipping on most items they sold, then they started charging for shipping.
I was under the impression that the vendors were supposed to pay for the tariffs, but I believe the consumer paid the tariffs not the vendors.
I'd like to know where these trillions of dollars are at? Did they just go somewhere only Trump knows about? Is it a secret? Did the American consumers get any of it for being charged outrageous shipping costs?

[Effably]

Well, he lies.

The real number is 450 billion.
The cost for maintaining this is about 120 billion.

Which means the actual money earned on tariffs are roughly 320 billion.

If that was all it would be sort of great. It is not all.

It is also estimated that the average US household has had costs of a out 4500$ oushes to them per year due to the tariffs. There are 124 million households in the US.

This comes to the the tune of costing 558 Billion per year. The tariffs are now at negative 238 billion dollars per year.

This is before we account for costs on industry and lost international commerce.

It is easy to state that far from earning money, the realistic cost of Trump's tariffs are in the ballpark of 500 1.5 trillion (negative) per year. Still not accounting for losing market share and future prospects. Which might have just damned future generations.

It is universally agreed to have been an incredibly stupid decision. No matter what side you stand on.

I have made no secret of disliking Trump. But speaking only on the merit of the action itself? These tariffs are and always were stupid. This should have been obvious when he demonstrated that he does not understand what a trade deficit is.

[Dr_Dixon_Cider]

Fucking Trump again... this must be why we need tampons in kids bathrooms.

Look, it's like picking a side between two retards being retarded and you have to figure out which one is a little less retarded. Those trans kids though am I rite?

My AI says : The irony is that there's a perfectly legitimate economic question underneath all that chaos: tariff revenue goes to the U. S. Treasury, and the claim about collecting trillions deserves scrutiny.

[lilBigPotato]

That's not how tariffs work. The person/company who imports pays the tariff, not the vendor. And obviously many companies will try to pass that cost on to the consumer to keep their profits.

The higher prices through tariffs can lower demand for those products, which makes local ones more attractive in comparison. Vendors can try to lower the price to offset the tariffs to keep demand high but the tariff has still to be paid and the importer is the one paying it, never the vendor.

Trump is just a dirty liar. Everyone should know by now.

[lilBigPotato]

What happened with that money? No clue, I don't know the US system well enough and haven't read about it but wouldn't expect anything pro consumer to have been done with that.

[sage2021]

@lilBigPotato

I'm saying that if I buy something from Walmart and they get it from China and China ships it, that would be Walmart's vendor.

[lilBigPotato]

If Walmart buys something from China, Walmart will pay the tariff. Shipping has nothing to do with it. Walmart can then either take the financial hit, or try to get the money back from their customers (increase prices, increase shipping, introduce new services, whatever they feel like...).

And if you buy something directly yourself from China, you will be the one who has to pay the tariff since you're the importer.

[Sal_Monella]

All tariff revenue is deposited into the U. S. Treasury’s General Fund, where it mixes with income tax, corporate tax, and other federal receipts, and is then spent through Congress’s annual appropriations process. It not earmarked for any specific program. So, it can be offered that it reduces the overall deficit.

Under the Miscellaneous Receipts Act, officials must deposit these funds into the General Fund. Once in the General Fund, tariff dollars lose their identity and are indistinguishable from other federal revenues.

There is no earmark for tariffs, which is unlike payroll taxes for Social Security or fuel taxes for the Highway Trust Fund. Congress decides how to spend the money through the normal appropriations process, alongside all other revenue sources.

Soooo, tariff money becomes part of the U. S. government’s general budget and is used much like any other federal revenue. The exact allocation depends on what Congress chooses to fund. No, Trump didn't steal it or use it for the Ballroom.

[sage2021]

Sal_Monella

I wonder if the Democrats will give it all to the USAID that went on stupid things and was sent to other countries.

Remember when Elon Musk dug up where that money was going?

[MrChinaski]

Tariffs are a tax on imports. Consumers are the main importers. How could that have been made clearer? It was right there in black and white when you voted to be taxed on your imports.

[MrChinaski]

"I was under the impression that when I ate a candy bar the weight would be gained by the vendor."

This is precisely as sensible a statement.

[exitseven]

not trillions but hundreds of billions. The money went in the treasury. It would have ben more except the the democrats interferrence.

[Shiprex]

Ofc it's in accounts of his mates and family.

[Nik1hil]

That was Used to Settle Debt that Was Taken 12-15 years Back in Obama Administration

[In_Trance]

Your impression is wrong.
Consumers pay the tariff
Government keeps the money

[Anonymous]

It's there