Volvo is going to lay off employees, which actually reflects a problem: if high tariffs are only imposed on China while other countries have low tariffs, this will not enhance American manufacturing but will only allow countries outside of China and the U.S. to profit.

It's like China imposing tariffs on U.S. soybeans, making Brazilian farmers rake in profits.

For example, a certain car company originally imported components from China that accounted for 50% of its total costs. Now, with the tariffs, these components have doubled in price, meaning the company's overall costs have increased to 1.5 times the original amount = (50% + 50% x 2).

On the other hand, another company in Europe has not changed its costs and needs to pay a 10% tariff to enter the U.S., meaning this company's costs have increased to 1.1 times the original amount.

Result: American manufacturing is doomed 😂

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