Comment by rtkwe
17 days ago
> cheaper labor and laxer environmental regulations
So we've exported our worst paying, most environmentally damaging industries? I mean the rivers catching fire was probably exciting but I'm not exactly pining to bring that back...
Tariffs can only set those industries up for internal markets, other countries will just continue to buy from the cheaper source so the protected industry has to continue to be protected.
Additionally who's going to work these labor intensive industries? We're already at 4.1% unemployment, there's not vast masses of people waiting for low paying work as seamstresses and one of the other major prongs of the Trump ideology is reducing immigration drastically so we're going to squeezed on that end too.
Finally we've done mass tariffs before and it always ends badly. Remember Smoot-Hawley? it deepened the Great Depression because people thought they could turn to protectionism to prop up and bring industry to the US. It just doesn't work when broadly applied.
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