By Phil Duffy
The media today is fixated on presenting the economic and emotional cases for and against tariffs. Politicians are free to spew their propaganda and the people become roadkill.
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32 sats \ 1 reply \ @Cje95 13 Mar
I will say that the steel tariffs (maybe the aluminum) do have some actual standing. The US has been flooded with cheap steel from Japan (who was also tariffed) and steel that was coming from Asia to Canada and then into the US. We have seen the steel industry struggle with US Steel trying to sell itself to one of Japan's huge conglomerates. Given we have found actual issues with some of this cheap imported steel (not as strong as it claims to be) tariffs to protect the US industry does at least have some logic.
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0 sats \ 0 replies \ @Undisciplined OP 13 Mar
If it's known to be lower quality, then prices should take care of that. I don't think the protectionist case for tariffs makes much sense. In aggregate, the "protected" country ends up being poorer.
The Optimal Tariff Theory case for tariffs, which is that large consumer economies can shift the tax incidence to foreigners, is at least a strong argument for preferring tariffs over other taxes.
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28 sats \ 2 replies \ @Msd0457890 13 Mar
Is this madness or a way out to revive the economy? They want to charge tariffs on everyone.
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0 sats \ 1 reply \ @Undisciplined OP 14 Mar
It seems related to the broader plan for tax reform, which is to replace income tax revenue with tariff revenue.
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31 sats \ 0 replies \ @Msd0457890 14 Mar
Ways to raise capital or money to keep the economy going.
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