(November 8, 2024 at 12:17 am)TheWhiteMarten Wrote:(November 7, 2024 at 11:55 pm)HappySkeptic Wrote: Tariffs raise prices the average price of goods, but leave local goods slightly cheaper.
Tariffs work for the economy, if all your trading partners just suck it up and take the hit. But they won't, and in the end the reduction in trade makes the economy poorer.
Trump is likely going to claim that he can force that outcome - force all other countries to suck it up "or else". The first country that does countervailing duties will be hit with ever-escalating tariffs by Trump. The problem is, every country is going to do it. A world-wide trade war will tank the stock market and the economy.
If they have a problem with it, they can take their business elsewhere; and frankly the countries he has mostly heavily advocated for tariffs against - places like China & Iran - are places *no* American business should be doing business with to begin with.
"Every country is going to do it." only if they wish to see their own economies fail. I refuse to buy Russian and Chinese propaganda, Islamic propaganda, to the point that the West has become such a decrepit old man that must be beholden to their interests.
Did you fail consumer economics in high school?
Thief and assassin for hire. Member in good standing of the Rogues Guild.
