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Tariffs could make sense economically, but even in that case, they would "hurt consumers", because that's the whole point - address the imbalance between consum
by ifwinterco 9mo ago
Tariffs could make sense economically, but even in that case, they would "hurt consumers", because that's the whole point - address the imbalance between consumption and production currently being made to add up with constantly increasing debt.
If you were going to do that though, it would be more like a 10-20% blanket tariff on all goods. No exceptions, no special deals, and you can't use tariffs as a negotiating tool. So that's not what's going on and the current approach doesn't make any sense economically
- estearum 9mo agoOr you can use tariffs in a highly targeted way to try defend certain domestic industries from foreign competition. But as is common with this administration, they're doing everything in the dumbest and least productive way possible.
- ifwinterco 9mo agoYep you're right, that would be another possible legitimate (sort of) use of tariffs. Make the case that (for example) steel production is a vital national interest which must be defended even if it results in higher steel prices. Of course it will result in higher prices, that's the point, but also the part politicians aren't too keen to spell out
- greenavocado 9mo agoYou misunderstand. Tariffs have always been in place like this. They are just expanded now. Enacted in 1988 via the Omnibus Trade and Competitiveness Act, the HTS replaced the older Tariff Schedules of the United States and took effect January 1, 1989. It aligns with the World Customs Organization's HS, adopted globally by over 200 countries. https://hts.usitc.gov/ https://hts.usitc.gov/ You can see the archive going to "2015 and older" here https://hts.usitc.gov/download/archive https://hts.usitc.gov/download/archive
- estearum 9mo agoDo you think I’m under the belief tariffs are actually new? Sorry buddy but it is you who misunderstands.