Comment by bigfudge
8 days ago
The US already had pretty favourable trade deals with most of the world. The trade deficit wasn’t because of tariff barriers to US goods overseas.
8 days ago
The US already had pretty favourable trade deals with most of the world. The trade deficit wasn’t because of tariff barriers to US goods overseas.
But the countries hit with high tariffs have specifically uneven trade arrangements.
When countries put a high tariff on US goods while enjoying low or no tariffs when exporting to the US - that’s an unfair arrangement.
No, they do not.
Vietnam for example: US 46% tariff, Vietnam average 15% tariffs.
This will hurt the US far more than it hurts other countries, as other countries will just start to bypass the US and trade with other nations.
Who would trust goods from the US or having them as part of your supply chain after this?
The tariff’s aren’t entirely based on the trade deficit. Vietnam artificially keeps its currency undervalued to boost exports.
Trade with other nations?
These are exports to the US, which is 25% of the world’s GDP.
Who is going to replace that demand?
You think Vietnam, where 30% of GDP are US exports, is going to be hurt less than the US where Vietnam makes up 3.9% of imports?
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