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> the one and only industry Not true at all. Agriculture, semiconductors, consumer electronics, and automotive are examples of other industries tariffs are des
by mfatica 7y ago
> the one and only industry
Not true at all. Agriculture, semiconductors, consumer electronics, and automotive are examples of other industries tariffs are designed to benefit. Steel is one of many.
- arcticbull 7y agoHow are the agriculture, semiconductor and electronics industries supposed to benefit from steel tarriffs?
- ilikehurdles 7y agoThe only one I see potentially affected here is agriculture (specifically, manufacturing for agricultural uses), in that businesses have to spend more on steel or buy lower quality steel because they couldn't afford the higher price.
- Retric 7y agoPolitics makes strange bedfellows. They all benefit from tariffs. Further, by acting collectively it’s easier to get your own pork spending when you support others pork spending. Get several groups who care a lot about their own issues and little for each other’s issues, and you can push polices that most people disagree with. Of course you need to be carful as alliances pool both support and opposition.
- hedora 7y agoI don’t see how any of those other industries can be expected to benefit from the tariffs: The tariffs were designed to hurt agriculture, or at least treat it as acceptable collateral damage. It was obvious the Chinese would retaliate by targeting US farmers, and then they did. How is automotive supposed to benefit from tariffs against Mexico, which the industry heavily relies upon? How do consumer electronics benefit from tariffs on Chinese electronics components when the tariffs simply force production to other non-US countries (where production plants are already ramped up)? Note that the tariffs on Chines components mean that US assembled consumer devices get taxed at 25%, but foreign (non Chinese) assemblers don’t. Semiconductors are mostly made in the US, Japan, and South Korea. How do tariffs on Chinese goods help shore up US dominance there? https://www.worldatlas.com/articles/all-about-the-semiconductor-industry.html https://www.worldatlas.com/articles/all-about-the-semiconduc...
- Retric 7y agoSugar tariffs are what enable the massive corn industry to sell otherwise more expensive product corn syrup as a sweetener. Collectively tariffs are a massive subsidy to US agriculture even if not every farmer beniftis equally.
- pravda 7y agoSugar tariffs are designed to hurt every single American and benefit a few multi-millionaire sugar producers in Florida. Since Florida is a 'swing state', this will never change.
- Retric 7y agoCongress enacted the first sugar tariff in 1789. Politics has changed a lot over time. However, it’s the substitutes of sugar beets outside Florida not sugar cane that provides most US sugar production. That’s currently less relevant at industrial scales where corn is a fine substitute even if it’s a slightly different chemical and not granular.
- drocer88 7y agoHow do tariffs on Chinese goods help shore up US dominance there? Same way that the decision of the "Party Central Committee" of The People's Republic of China to block Google helped Baidu. China started this. 10 years later we're just now joining the fight.
- enitihas 7y agoDid China ever block Google? Or did google refuse to serve the Chinese market themselves due to the requirement to censor search results. While censorship is bad, it is a legal requirement in China. Even the US wouldn't allow companies violating US sanctions on Iran to do business in the US. Case in point, Bing still works in China and complies with the demands of the Chinese Government.
- 7y ago
- pjc50 7y agoI work for a US multinational semiconductor company, and the Huawei sanctions took 20% off our share price. It's an interconnected world.