Quote:
Originally Posted by opendoor
They're not self-sufficient for food, as they import about 15% of their food supply. And for the food they produce in the US, they obviously rely on significant imports for machinery and fertilizer (over 20% of their fertilizer is imported). If you don't think tariffs on those items would put upwards pressure on food production prices, then you're mistaken. And of course you have to consider the possibility of mass deportations and how that may affect the input costs of an industry that has about 40% of its labor being undocumented workers.
As for energy, Trump didn't lower energy prices last time, so why would he now? The 3 years he was in power pre-COVID, oil prices were above they were in the years before he came to power:
2015: $48.68 average oil price
2016: $43.14
2017: $50.88
2018: $64.93
2019: $56.98
The real decline happened in late 2014, over 2 years before Trump came in to office.
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Maybe he won't? But if he holds true to his "dig dig" comment, more energy means less scaricity which means lower prices AT THE PUMP. It is obv more complicated than that.
The more likely thing that happens is he just does nothing but golf and make stupid remarks about world leaders.
Last comment on the food thing, there is competition and there is variety, if one apple brand is more expensive than another apple branch because of tariffs or whatever, you have the choice.