I understand where he’s coming from, but I personally disagree about us being worse off. It’s a usage tax. Buy domestic and don’t pay the tariffs. Frankly, there’s never been enough pressure on exporters to keep goods in the country of origin either, so the reciprocal tariffs will hopefully put some pressure there.
It’s a tax that proportionally taxes the poor more than the wealthy, and it’s not a coincidence that it’s happening the same time taxes on the rich are being lowered.
Tariffs could make sense if we had a big manufacturing unemployment problem, but we currently do not. And targeted tariffs can help keep strategic industries in the country, but the 15% tariffs aren’t targeted. Some countries are just better at making certain things, whether it’s because of the resources they have, or the particular skills their workforce have, so trade, generally, makes sense.
The stupid “trade imbalance” thing Trump goes on about doesn’t even take into account all the services US companies sell them (tech, financial, etc), and nothing is being done to stop US companies from offshoring these service jobs (some of these service jobs do have high unemployment and are being heavily offshored right now). Nevermind that trade imbalances means we’re receiving more stuff than we’re sending them, which is more beneficial to us.
I dunno why you want to keep resources/goods in their country of origin. Only Central and South America can enjoy coffee I guess?
I understand where he’s coming from, but I personally disagree about us being worse off. It’s a usage tax. Buy domestic and don’t pay the tariffs. Frankly, there’s never been enough pressure on exporters to keep goods in the country of origin either, so the reciprocal tariffs will hopefully put some pressure there.
It’s a tax that proportionally taxes the poor more than the wealthy, and it’s not a coincidence that it’s happening the same time taxes on the rich are being lowered.
Tariffs could make sense if we had a big manufacturing unemployment problem, but we currently do not. And targeted tariffs can help keep strategic industries in the country, but the 15% tariffs aren’t targeted. Some countries are just better at making certain things, whether it’s because of the resources they have, or the particular skills their workforce have, so trade, generally, makes sense.
The stupid “trade imbalance” thing Trump goes on about doesn’t even take into account all the services US companies sell them (tech, financial, etc), and nothing is being done to stop US companies from offshoring these service jobs (some of these service jobs do have high unemployment and are being heavily offshored right now). Nevermind that trade imbalances means we’re receiving more stuff than we’re sending them, which is more beneficial to us.
I dunno why you want to keep resources/goods in their country of origin. Only Central and South America can enjoy coffee I guess?
That’s why he didn’t put tarrifs on coffee, chocolate and bananas. O wait, he did.
Until everyone you trade with returns the favour, and no foreign consumers are buying your products.