2 ms·
Agreed on the tariffs. It's a significant concern if all the tariffs get implemented. However, I doubt it will happen due to political opposition from both Repu
by simple10 2y ago
Agreed on the tariffs. It's a significant concern if all the tariffs get implemented. However, I doubt it will happen due to political opposition from both Republicans and Democrats as well as legal concerns.
The US president has limited authority to unilaterally implement tariffs. He would have to claim national security concerns or retaliation to unfair trade practices from other countries. Trump previously imposed tariffs on China due to (well documenented) unfair trade practices. Biden then extended the China tariffs. But Trump would be legally challenged and most certainly lose if he claimed unfair trade practices by every country on earth.
Here's a good video explaining the problems with tariffs. They have lots of unpredictable long term outcomes and are hard to remove once implemented. Apparently there's still a chicken and truck tax on trade between US and Europe that dates back to WWII.
https://www.youtube.com/watch?v=_-eHOSq3oqI https://www.youtube.com/watch?v=_-eHOSq3oqI