Comment by Animats
17 days ago
> If the tariffs remained in effect for three decades, or more, there may have been incentive to move manufacturing back to the US;
That's the European Union, with no tariffs within the EU, moderately high tariffs at the EU border, and few policy shocks. The EU plugs along, with somewhat protected industries, moderately high prices, good quality, and some export business.
> moderately high tariffs at the EU border,
I've this assertion made here multiple times. The LLM's tell me the average tariff on goods coming into the EU is 2-3%. That's not what I would call "high". The tariffs imposed by the current USA administration start at 10%, and range up to 54% for nation it imports most from (China). Now that's what I would call "high", although if you are going to call 2-3% moderately high then you need a better superlative - perhaps "extreme".
> The LLM's tell me
Actual sources of information give you 1.39% [1]
[1]: https://data.worldbank.org/indicator/tm.tax.mrch.wm.ar.zs