Comment by hcknwscommenter
6 days ago
"What tariffs do is they allow us to pay people living wages and sell expensive products and still be competitive because products from China are tariffed to be the same price."
Tariffs don't do that necessarily. Maybe a tariff applied to a specific strategically important product or industry, could achieve that. Basically you are then subsidizing an important sector of the economy in a way that is economically inefficient and will make us all poorer in favor of some other interest like national security. The kinds of tariffs applied by the Trump administration cannot even achieve price competitiveness because price is nowhere in their extremely dumb equation. They cannot achieve national security because they are applied to inputs and outputs. They cannot achieve anything useful. They can only make us all poorer.
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