Comment by os2warpman
7 hours ago
Tariffs are not now, have never, and will never lead to an increase in domestic production.
They only lead to higher costs and/or a festering, shambling corpse of domestic production that is a shell of its former self.
The US has done this multiple times already and the result is always the same.
Numerous countries have done this and the result is always the same.
The results, everywhere, every time, forever, are always the same.
Higher prices, stagnant markets, eroding capabilities, higher and higher tariffs and/or subsidies to keep it all propped up.
> Tariffs are not now, have never, and will never lead to an increase in domestic production.
I disagree. Its a pretty straightforward market force.
> The US has done this multiple times already and the result is always the same.
Personally, I don't buy the argument that "it didn't work 100 years ago, so it can't work today." The circumstances are entirely different. The global economy is entirely different. The US's role in the world is entirely different. We are also not in the middle of a great depression, which I imagine would also affect the outcome.
> The results, everywhere, every time, forever, are always the same.
In 2018 the US instituted steel tariffs and it increased domestic steel manufacturing.