In Reply to: Re: GDP last quarter -0.3 % posted by russsmith on April 30, 2025 at 07:35:36
I’m not buying the argument that buying imported goods caused GDP to fall; GDP includes goods and services and importing more goods requires all kinds of services from the ports to the retailer to sale/delivery of buyer.
The way tariiffs have hurt the economy is by creating uncertainty, increasing costs and taxes, both of which suppress economic activity.
You open an import business you are contracting for suppliers over seas, but you are also contracting for labor at ports, drayage, rail/truck transportation, and for a warehouse. You’re hiring warehousemen and delivery drivers, all of which are additive to GDP.