Comment by BobbyJo
3 days ago
> 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.
> I disagree. Its [tariffs] a pretty straightforward market force.
By themselves, tariffs do not and cannot provide assurance of any outcome, they can only amplify the effects of the other economic policies in force at the moment.
As for the current policies, the effects are clear - further monopolization, inflation, lower standard of living and asset trickle up (more like waterfall to the sky), combined with circus politics, phony heroics, wars and empty promises.
That might be positive for some but certainly not for the majority.