2 ms·
> Prices for goods would go up, but so would the demand for labor. That's true, but no rational economist or politician believes that tariffs are here to stay.
by da_chicken 6y ago
> Prices for goods would go up, but so would the demand for labor.
That's true, but no rational economist or politician believes that tariffs are here to stay. They're a reflection of Trump's ideas rather than a recognized modern economic policy. Even then, Trump's goal was to combat China's policies, not create a long term system of import and export taxes to protect American workers.
As a result, there hasn't been significant industrial investment in the US. That's one of the problems we've had with Covid: the PPE, medications, and ventilators are all manufactured overseas. We've had to retool our auto manufacturers to spin up ventilator production. You'd be crazy to invest in US manufacturing since the tariffs look about as permanent as a White House press secretary. You know you'll be undercut and put out of business in just a few years.
- linuxftw 6y ago> Even then, Trump's goal was to combat China's policies, not create a long term system of import and export taxes to protect American workers. Well, if you consider he canceled the adoption of the TPP, the Paris Climate Accord, and negotiated the MCA agreement, I'd say it was a series of long term changes. Naturally, there's only so much the executive branch can do in isolation. > You'd be crazy to invest in US manufacturing since the tariffs look about as permanent as a White House press secretary. Right, need congress to act.