Discover and read the best of Twitter Threads about #tariffsaretaxes

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In 2012, Tim Cook announced Apple would make a Mac computer in the US.

But when Apple began making the $3000 computer in Texas, it struggled to find enough screws. By the time the computer was ready for mass production, Apple had ordered screws from China nyti.ms/2HBT2QK
Apple CEO Tim Cook: “The skill here is just incredible. In the US, you could have a meeting of tooling engineers and I’m not sure we could fill the room. In China, you could fill multiple football fields.” (h/t @scottlincicome)
"Caterpillar said costs tied to new US tariffs on foreign goods, including steel and aluminum, were just above $100 million over the 5 months of 2018 that they were in effect.

The company expects more than $200 million in tariff-related costs this year." wsj.com/articles/cater…
Read 140 tweets
In light of today US-China tariff escalation, worth highlighting some of the incredible details in @SenRonJohnson's letter to the Administration about harm from 232/301 #tariffs to #Wisconsin companies. #TariffsAreTaxes #TariffsareBAD bit.ly/2Lm4Nr6 1/X
@SenRonJohnson From @CV_Bean in Menomonie, Wisconsin: “CVB has cancelled over $3.5 million in capital purchases for 2018 since the retaliatory tariff was applied, as well as scrapping over $15 million in expansion plans for 2019."
@SenRonJohnson @CV_Bean More from @CV_Bean: "Kidney bean suppliers in Canada, China & Argentina will raise their prices, too, slightly below the US base price plus the tariff. The end result is that our competitors will increase their profit margins while US farmers can’t sell their beans.” 3/X
Read 14 tweets

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