Non-economic impact of tariffs
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The Economist has a great piece on the non-economic outcomes of the last time America got into a trade war.
A few broader thoughts. Trade accounts for more than 25% of America’s GDP. That’d be the world’s 3rd largest economy on its own.
What’s the end play by shutting down trade? If this all works out and we become a manufacturing powerhouse, who do we sell our stuff to?
This seems like the most consequential government policy since the new deal and ww2.
I don’t understand how there isn’t more concern about this. We are actively destroying our foreign markets right now… there better be an upside.
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His economic policies were generally considered reasonable and better than the opposition party’s, even by never Trumpers. I don’t think anybody was expecting to take seriously the notion that 25% tariffs on everything is good for America. I remain hopeful, if less sure, that the tariffs are a negotiating tool to force better trade agreements. But the idea that the threat of these permanent tariffs is credible, is an idea that it’s credible to believe Trump will hamstring America’s global competitiveness.
Education is extremely important.
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His economic policies were generally considered reasonable and better than the opposition party’s, even by never Trumpers. I don’t think anybody was expecting to take seriously the notion that 25% tariffs on everything is good for America. I remain hopeful, if less sure, that the tariffs are a negotiating tool to force better trade agreements. But the idea that the threat of these permanent tariffs is credible, is an idea that it’s credible to believe Trump will hamstring America’s global competitiveness.
@Horace said in Non-economic impact of tariffs:
His economic policies were generally considered reasonable and better than the opposition party’s, even by never Trumpers. I don’t think anybody was expecting to take seriously the notion that 25% tariffs on everything is good for America. I remain hopeful, if less sure, that the tariffs are a negotiating tool to force better trade agreements. But the idea that the threat of these permanent tariffs is credible, is an idea that it’s credible to believe Trump will hamstring America’s global competitiveness.
It’s Madman Theory 2.0… Just applied to economics…
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Isolation-ism does not work. Period.
@taiwan_girl said in Non-economic impact of tariffs:
Isolation-ism does not work. Period.
Contrary to what a couple here wrongly believe, nor does a policy of state decreed economic extortion for the purpose of establishing what amounts to a mercantilist autarky.
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His economic policies were generally considered reasonable and better than the opposition party’s, even by never Trumpers. I don’t think anybody was expecting to take seriously the notion that 25% tariffs on everything is good for America. I remain hopeful, if less sure, that the tariffs are a negotiating tool to force better trade agreements. But the idea that the threat of these permanent tariffs is credible, is an idea that it’s credible to believe Trump will hamstring America’s global competitiveness.
@Horace said in Non-economic impact of tariffs:
His economic policies were generally considered reasonable and better than the opposition party’s, even by never Trumpers. I don’t think anybody was expecting to take seriously the notion that 25% tariffs on everything is good for America. I remain hopeful, if less sure, that the tariffs are a negotiating tool to force better trade agreements. But the idea that the threat of these permanent tariffs is credible, is an idea that it’s credible to believe Trump will hamstring America’s global competitiveness.
Two thoughts. The effect of unraveling trade has already begun - with permanent (though maybe not yet huge) effects. So we’re beyond just negotiating.
I’m also not sure what Trump wants to renegotiate on the CUSMA deal he outlined. He hasn’t been clear.
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The Economist has a great piece on the non-economic outcomes of the last time America got into a trade war.
A few broader thoughts. Trade accounts for more than 25% of America’s GDP. That’d be the world’s 3rd largest economy on its own.
What’s the end play by shutting down trade? If this all works out and we become a manufacturing powerhouse, who do we sell our stuff to?
This seems like the most consequential government policy since the new deal and ww2.
I don’t understand how there isn’t more concern about this. We are actively destroying our foreign markets right now… there better be an upside.
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What better way to prepare for a war than to alienate all your potential allies?
