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Of course, there's more to be said than just the theory, but get the theory first.
Discussion
Or at least read Bastiat:
I know .. all those rules apply to US .. how about setting some non Tarrifs rules on EU .. or China or India .. I am sympathetic to smaller developing nations .. n but if go by your theory .. they too are harming themselves by imposing Tarrifs on US goods (services) .. or Chinese .. right ?
The only reasonable tariff is 0.
EU is no better, btw
That is exactly what Trump is doing ... The goal of Tarrifs are simple
1) Lead world towards no government intervention in Trade.
2) Open unfettered access to Americal businesses (big or small) across the globe
3) Put a minimum Tarrifs on countries that exploit labor to produce cheapo goods .. These nations have no laws of their own and they allow American corps (read Apple and Nike) to exploit their labor .. Which in turn undermines American Manufacturing .
4) Push nations to stop wars (eg India supporting Russia) .. Time and again we have seen , Sanctions don't wok .. Tarrifs do
And here is another fact - Only TRUMP can do it ..
kinda don't get the part that 0 is the goal. it's not what he's doing.
you can rationalize this BS all day long
Theories are great .. till we hit a real world example .. then lets just talk specifics ..
Why does India has 50 billion (per year ) trade surplus with US ? Is it like US has nothing to offer ? Btw - just FYI .. India imposes 150 percent Tarrifs on US Auto and Whiskey .. I mean I can still live without a Ford Truck but without Jack Daniels .. give me a break :-) ..Or straight up Bourbon ...
That's by design. Our government spends too much, and it's only possible because other countries keep buying our dollars. Its only a trade deficit if you don't understand that dollars are the good we produce and you demand. If no one wanted dollars, our economy would hyperinflate because the domestic economy can't absorb that many dollars. So, on the one hand, thank you ; on the other hand, please stop. The tariff makes no difference to me - stop buying our dollars.
Okay .. I understand that .. so you want us to keep making dollars and keep adding to debt ?
Or Do you want us to stand on our feet ( manufacturing ) ?
Idk, you do you man. There's pros and cons to either.
Are you actually in India? What's the situation like between the states and the federal government? Its a federal entity, right? How autonomous are the states? Could they buy bitcoin without federal approval? Could cities? Are the cities and/or states buying gold? I know India loves gold, but I don't know if that's all the government levels or just one or just the people buying it. But most curious if they could get bitcoin.