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I used to be on this train that tariffs are always bad, but when other countries have them I think there is a benefit to the US having them. It allows the US to
by mlazos 6y ago
I used to be on this train that tariffs are always bad, but when other countries have them I think there is a benefit to the US having them. It allows the US to capture some of the benefits that this other country is taking. Yes everyone is worse off than without tariffs, but the US is slightly better off from the world where only other countries have them. There is also the additional caveat of industries moving to other countries because of cheap export back to the US - there is a benefit to keeping people employed especially when other countries don’t have ethical labor laws. This results in more expensive goods, but prices in externalities like workers not working in sweatshops.