According to President Donald Trump, Mexico will ultimately pay for the wall [“Paying for border wall,” News, Jan. 27].
He signed an executive order directing the Department of Homeland Security to use existing funds to start building.
This is our money. His next idea is to impose a tariff on products from Mexico. Who pays for the tariff? We do, through higher prices. Again, it’s our money.
Plus, let’s not forget the additional sales taxes on the sale of those products.
James J. McCormick, East Northport
President Donald Trump seems to have slept through his economics courses at the Wharton School.
The unintended consequences of his proposed tariffs have not been discussed. Raising the price of imported goods would place a floor under all prices and allow manufacturers to raise prices on domestically produced goods, which would be good for stockholders and executive bonuses, but bad for consumers.
Fewer imports from Mexico would cause layoffs in its factories and cause more people to go under, over or around the wall in search of jobs. Mexico might impose countervailing duties, resulting in a trade war that would hurt both countries.
The House Republicans’ idea of imposing duties on imports from countries with which we have a negative balance of trade could ignite a global trade war of the type that increased the severity and duration of the Great Depression.
Stanley Kalemaris, Melville
President Donald Trump is set to turn back years of hard work and cooperation by the international community [“Rift with Mexico widens,” News, Jan. 27]. The work has resulted in mutual trust and the promotion of global trade that is the hallmark of globalization.
Sadly, after withdrawing from the Trans-Pacific Partnership agreement, Trump insisted on next imposing a 20 percent tax on Mexican imports to finance the wall on the Southern border. This is a harbinger of protracted trade wars that will prompt retaliatory measures by other countries.
Bear in mind that after the imposition of import duties on Mexican products, the ultimate payers will be American consumers, who will suffer increased prices on all imports to finance the wall.
I’m afraid, at this regressive speed, Trump’s campaign promise to make America great again will be a distant dream. On the other hand, making America a formidable regional and global bully will definitely be an accomplishment to his credit.
Atul M. Karnik, Woodside