News and comments of current elections and political topics.
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Where did my thinking go wrong? Raising the price of imported steel raises the cost of American manufacturing. They either have to buy more expensive American steel or the higher price of imported steel. But products manufactured in, say, China do not have to raise their prices. American made products are more expensive. "Buy American' anyway?
A 24,000 market amounts to about $7 trillion. A 26,000 market amounts to about $7.5 trillion. That's about $500 billion change. Where did this money come from to raise the market? Where did it go when profits were taken?