Imposing tariffs, further impoverishing the poor, in order to not show compassion for your own citizens? That doesn’t just sound backwards, it just is. The fentanyl crisis is just being used as an excuse to impose the tariffs. By now it’s well known that Trump desperately wants to proof his professor wrong and if the world has to burn, so be it.
> By now it’s well known that Trump desperately wants to proof his professor wrong
By now it it's well known that globalization is for a fantasy world that doesn't exist, and people should stop listening so much to economics professors. Trade barriers need to go up to re-orient things. Unfortunately, Trump is unlikely to do it competently.
A 10% tariff on China won’t stop globalization. Even an 100% tariff wouldn’t. American goods aren’t 10% more expensive, a lot of them are 10x more expensive.
Look for American made kitchen knives. You will be lucky to spend less than $2k on a block of Made in USA knives. Meanwhile you can get a pretty good set made in China for under $200.
If you wanted American companies to compete, you would need a 10x tariff to make that $200 knife set cost $2000.
The US has spent the last 35 structuring its economy under neoliberalism. Some people (rust belt) are worse off. Some are much better off, especially since they didn’t have to compensate the people who whose jobs were sold overseas for pennies on the dollar.
