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Comment by sethammons

16 days ago

So if we want electronics manufacturing, economists agree, targeted tariffs can encourage local electronics manufacturing.

The US does targeted tariffs all the time, including 100% on Chinese electric vehicles because otherwise they could undercut the entire US auto industry.

Blanket tariffs have been tried. We can point to examples. They are bad. Economists agree here too. The US and allies have worked long and hard at reducing barriers to trade and we have avocado toast in January to thank for it. The alternative is to suggest the US can and will be the best at everything (or at least at enough things to offset the obvious loss in purchasing power of people).

A bit of an aside: there is this bizarre "anti-global" thing gaining more traction. Global trade ties economies together disincentivizing war. Isolationism promotes war because you need to own more to grow the economic pie. It drives towards taking over other territories, like, say, Greenland or Canada. Trade expands the economic pie.