Comment by refurb
16 days ago
No, every country in the world doesn’t manipulate their currency. Most can’t because of the floating exchange rate (which Vietnam doesn’t have).
Do you think Canada’s tariffs on dairy products has worked to protect the industry? Seems like it has?
Claiming that free trade has benefited the US is true, but the benefit has gone to the top at the expense of the bottom.
Europe uses tariffs to protect domestic industry and when the US decides to do it, suddenly it’s wrong?
Interest rates, taxes, subsidies and reserves also affect currency value.
The US uses selective tariffs already, which is fine though not actually that helpful IMO, what is new is absurdly high punitive and blanket tariffs on everything. This will tank the stock market, raise prices, cause a recession and perhaps most importantly ruin the reputation of the US as a safe haven.
The absurd tariffs on trading partners that don’t matter like Laos are a perfect illustration of how much thought went into this.