3 ms·

Probably more like wages will go up when cheap foreign labor is off the table. Higher income offsets higher prices for industries where wages rise. For the curr

Probably more like wages will go up when cheap foreign labor is off the table. Higher income offsets higher prices for industries where wages rise. For the currently well paid the purchasing power may drop. Silicon Valley didn't care about the rust belt, so why should the rust belt care about SV?

gizzlon 2y ago
Will the wages increase more than the prices? Aren't most things Americans buy imported or contain imported parts (for example all electronics)? Won't a decrease in exports, because of other nations ti-for-tat tariffs, decrease wages for many US workers?
- jampekka 2y ago
  In aggregate things will get more expensive, but purchasing power of some will increase. Or at least that's the idea.
  - kelnos 2y ago
    That "some" probably won't include most Trump supporters.
consteval 2y ago
The fallacy here is that US industries will even be able to compete with 200% tariffs. They won't, and they can't, and they certainly can't do it immediately. It takes decades to build up the manufacturing efficiency and processes to compete with China. We lost all of it. We will continue to buy from China because it will STILL be cheaper. And your goods will be 3x more expensive, and that's the best-case scenario for a lot of goods.
xnx 2y ago
High-paying, secure, union manufacturing job are never coming back. New factories are heavily focused on non-union workers and automation.