I guess the thought is, it forces production in the US instead of abroad, this creating jobs here and in turn stimulating the economy. I’d also wager that maybe he thinks it will cause the Fed to drop interest rates to make sure we don’t slip into depression. Just my thoughts, I’m not an economist though or anything.
Over a long enough period, sure. But that will take YEARS if you just leave it up to market forces. Factories don’t just pop up overnight in response to a bunch of tariffs. The responsible way to do it would be to carry out a long term plan over a few years to transition back to domestic manufacturing. Thereby minimizing any negative effects to Americans and the American economy.
Slapping a bunch of tariffs on everything overnight will just kill American businesses and strangle the American consumer.
It's a national security issue.
We can't rely on getting critical supplies from China and other potential enemies.
Agreed. We should invest heavily in domestic manufacturing. Levying heavy tariffs on everything will lead to high inflation and tank the economy. The next president will overturn the tariffs and it will have all been for naught.
If Biden or Harris imposed these tariffs the media would be praising them.
They’d be calling for them to be 25th’d, and rightfully so. We are being driven into an economic depression.
