Reader's View: Tariffs disfavor the working class

Reader's View: Tariffs disfavor the working class

Let's say an American family needs to buy a new widget for its kitchen, and it happens that a manufacturer in a foreign country makes just what the family wants. The cost to the manufacturer for parts, transportation to the U.S., and labor is $100. But profit is needed to sustain the factory and the owners, so $10 are added to the selling cost. The American importing company now pays $110 for the widget. As a company, though, it needs a profit t…