Cardone believes that rules of supply and demand will counteract the possible price hikes that could come from tariffs.
“At the end of the day, supply and demand is controlled by the consumer,” he told GOBankingRates. “As long as there’s enough supply and there’s enough demand, the appropriate price will be set, and the tariff will not change that.”
If prices do get higher than consumers are willing to pay for an imported version of a good or service, this opens up a new opportunity for U.S.-based businesses, Cardone said.
“When the price gets too high to import the good, somebody here that finds that good valuable will build it,” he said. “They’ll figure out a way to build it and deliver it affordably. It’ll make things fair here.”
Cardone also noted that it’s up to the consumer whether or not they are willing to pay for something, and tariffs can’t take away this choice.
“The consumer, at the end of the day, is the ultimate decision maker on whether they buy a product or service,” he said. “[Trump is] going to tear up things that we can build here, or things that we’re already building to level the playing field.
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