Another part of the new price of oil and Trump's tariffs earlier is that they are a regressive tax. Poor people have to pay more in terms of percentage of their income now.

Trump often said "Tariffs is the most beautiful word". I think he said that because he thought his followers were too stupid to realize that he was transferring tax-burden from the rich to the middle-class and poor. That's why he thought they were "beautiful". They enabled him to gaslight people.

American people are not stupid but many of us have to work hard so there's not a lot spare time nor energy to try understand what is actually happening. Fox News is misleading us purposefully playing emotional tricks on patriotic Americanss.

Now import-companies should get back the tariffs they paid. But does it mean they will lower their prices? Probably not.