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… I mean, that’s really hardly the point. “Hey, car industry, it’s totally fine _in aggregate_, so you really shouldn’t be complaining about collapsing”. High
by rsynnott 2y ago
… I mean, that’s really hardly the point. “Hey, car industry, it’s totally fine _in aggregate_, so you really shouldn’t be complaining about collapsing”.
High tariff countries have economies configured around those tariffs. You can’t do that overnight (as the UK is discovering post-Brexit).
- owenversteeg 2y agoAre you aware that the US did this before (weighted mean tariffs >doubled in Trump’s first term) and it worked well enough that the Biden administration kept the tariffs and even increased some? Also, comparing this to Brexit is absurd. Even putting aside the minor difference between Brexit and tariff changes, let’s compare a small island completely dependent on its neighbors to the US. They could not be more different! UK exports/imports as a percentage of GDP are double to triple the US.