I agree, tariffs will be a net positive for the country. Problem is, the people taking the brunt of that impact will, as always, be the poorest and most vulnerable. There are many ways we could solve that problem but of course authoritarians have no interest in that.
That being said, anyone who voted for Trump thinking he would fix the economy is a fucking moron. Tariffs make shit worse before they get better. It will probably be a decade before we start to see any positive impact from them.
Tariffs are a net negative. Always. The things produced will not be competitive on the global market, if they were, we’d already be making them. The higher prices always destroy more jobs than they create. Retaliatory tariffs destroy even more jobs. The higher prices drive down demand and make the working class consumer poorer. Always.
There’s no economic upside to tariffs, over any time horizon. They create a small number of jobs in a specific sector at a very expensive cost. Some politicians might decide that the enormous economic cost is worth it for other reasons, but a net positive they are not.
I agree, tariffs will be a net positive for the country. Problem is, the people taking the brunt of that impact will, as always, be the poorest and most vulnerable. There are many ways we could solve that problem but of course authoritarians have no interest in that.
That being said, anyone who voted for Trump thinking he would fix the economy is a fucking moron. Tariffs make shit worse before they get better. It will probably be a decade before we start to see any positive impact from them.
Tariffs are a net negative. Always. The things produced will not be competitive on the global market, if they were, we’d already be making them. The higher prices always destroy more jobs than they create. Retaliatory tariffs destroy even more jobs. The higher prices drive down demand and make the working class consumer poorer. Always.
There’s no economic upside to tariffs, over any time horizon. They create a small number of jobs in a specific sector at a very expensive cost. Some politicians might decide that the enormous economic cost is worth it for other reasons, but a net positive they are not.
[citation needed]
Wikipedia has a whole list of citations on this very sentence lol.
https://en.m.wikipedia.org/wiki/Tariff
Oh well, you have a single sentence from a Wikipedia article, I guess I was wrong!
The citations are all concerning the concept of “free trade” which is an incredibly generic phrase.