I don’t think you’re wrong de facto, and the intentions of the tariffs are certainly different from the results.
Not a Trump supporter btw, just skeptical of each and every neocon/neolib that sets foot near business regulations and PAC money.
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Plebcouncilman@sh.itjust.works 2 weeks ago
Trump could solve this but he’s a coward. I got downvoted last time I said this but I’ll repeat it, the tariffs were a good thing as they would absolutely destroy this consumerist culture we live in. The degrowth is a feature not a bug.
But Trump doesnt have the balls to do it so 🤷🏽♂️
why0y@lemmy.ml 2 weeks ago
MasterBlaster@lemmy.world 2 weeks ago
The problem with these tariffs, implemented in this way, is that the less wealthy has to shoulder the shock and most of the loss of wealth, while the most wealthy solidify their place in society on several levels. The social balance of power further shifts toward the billionaires.
Tarriffs are better applied for protecting existing small and mid-size businesses in danger of being wiped out by huge foreign operations, and protecting industries that have national security roles.
The key here is they would be applied before we lose the capacity - not decades after we already adjusted to the loss.
On this side of the curve it is more productive to subsidize operations that can (re)build the capacity we seek. Biden’s work with TSMC was a prime example. This approach is less disruptive. Even then, targeted tarriffs can be productive.
We could have saved our solar industry. We decided to let China sell priduct at a loss until their competition went out of business or left because no profit could be achieved. This is where tariffs make sense.