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this post was submitted on 09 Nov 2024
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These tariffs create American jobs and long term boosts American skills and manufacturing abilities.
I'm not sure it's a safe bet. Only if the tariffs last longer than 4 years. Building new factories takes a couple years, then you need to break even all within 4 years? Just seems risky to me
Unlikely. In the age of globalism, it's much more likely that manufacturing will leave the US to dodge counter-tariffs. The combined markets of Europe and Asia is for most products larger than the US market, and that trend is only likely to increase in the future as Asia develops. Manufacturers know making stuff in Asia is just cheaper, and that American consumers are more likely to go into debt to buy stuff than other consumers. They also know that these tariffs are unlikely to last for long, because if the US takes the expected economic hit here then it becomes less likely that Trump/the GOP remains in control (eg midterms flip control back to the democrats).
Not much reason to move factories to the US, which is wildly expensive, when taking the hit and waiting it out is ultimately most likely cheaper.
A detailed and well reasoned response. Thanks!
Except they don't. They just move them to other countries like Vietnam.
That's not the main point where you can assist that. Patent law would be the main point.
It's just a stupid way of doing it. Companies should be getting other incentives to bring manufacturing home. The middle and lower class shouldn't burn for that to happen.