There is a real short list of things that Austrian and Keynesian economists agree on. Tariffs destroy your own economy is one of them.
Here we are. A president so incompetent that he proudly did the 1 thing every economist on the planet agrees is bad for the economy with the goal of saving the economy.
We all make mistakes, but I have yet to meet a single real Trump supporter who has admitted they fucked up and now oppose him.
that should tell you that maybe your opinions aren't shared by them, not that they are obviously wrong, as you seem to think.
>50% on china is what was required, but I had no idea someone would actually do it.
Pain is required, and I'm here for all of it if long term it levels the playing field with China.
It seems like Americans get to pay for the privilege. Am I missing something? 
Go ahead, look up the map of countries color coded by tariff rates. Which of the highest tier of tariff countries is an economic powerhouse you want to emulate? Which has the wealthy population with low poverty rates and a thriving middle class. Economists may be prone to ivory tower BS but we also have global real world data collection on tariff rates and economic well-being agreeing with both schools of economic thought in this case.
Trade will naturally balance itself over time if you allow economic benefits of production to accrue to the producers of goods.
It is only if you rig the game to exploit cheap labor while pocketing the value difference yourself that trade deficits pile up.
So basically tariffs are shooting yourself in the foot because you are mad that being xenophobic didn't work out for you.
Admin talked about your comment “trade will balance itself over time,” which is why they are calling it “cheating “. It has not balanced because of various reasons they are addressing.
Anti-tariff folk need to pick a side. It’s bad for US? (Why are they harming themselves by currently tariffing us?)
Why is Canada upset if we tariff them if US customer pays?
I trust all the biz leaders of this admin over the hyperventilating leftist media.
Trust in either is a silly thing to do when you could just read a history book and see for yourself what always happens.
For example China.
If the Chinese worker was allowed to accrue a fair share of the wealth generated by their work the wealth in China would rise until equality where it makes no more sense to outsource everything there and manufacturing will rebalance.
Both the Chinese and US government policies are at fault that the gap isn't closing.
The stupid here is that tariffs nuke the us economy down to the Chinese level as the solution rather than remove the skimming and bad laws so the Chinese can rise.
Truly a government solution. Practically DEI or no child left behind logic to punish those who are ahead instead of constructively helping those who are behind.
All of the countries competing with us, especially China, should be CHEERING the tariffs then, if it will in fact nuke us down to their level.
I think everyone is protesting too much.
Not a trump fan - I’m a bitcoiners with popcorn.
But the best argument I’ve heard for tariffs is to FORCE the IS economy into contraction, eventually forcing the fed to lower rates. Lower prices and rates then paved the way for a combo of deregulation and lower taxes to make manufacturing here in the US very attractive. And people will be desperate to work.
Overseas, due to reserve status / Cantillon effect, they feel the tariffs harder and are, in some but not all situations, forced to spend more dollars.(but wouldn’t they just sell treasuries??)
Supposedly attempting to roll back the Triffin Dilemma.
Whatever. It’s all good for the corn. There may be an initial dip, but it’s going to rip afterward. In fiat terms and adoption.
Here are the options for economic inequality between 2 trading nations long term. These are from the perspective of the wealthy country that has outsourced their production into a trade deficit with a poorer country.
A: You can let them get rich as a result of their hard work until there is no longer an incentive to outsource because your economies have hit parity.
B: Tariffs will nuke your own economy down to whatever level the other economy is at so there is no longer any incentive to outsource because your economies have hit parity.
The only possible reasons I see for choosing B.
1. Xemophobia and or racism causing you to to oppose the other economy succeeding.
2. Tariffs give government coffers a bigger piece of the money pie that can be used to fund more corruption that you and your buddies can pocket.
Wonder if Trump & cronies sold at the top and are intentionally driving down the economy to buy back at cheap prices, then remove tariffs?
Uneducated armchair economist here. It seems to me that one of the issues of economics is it very difficult to show actual cause and effect since it’s such a complicated system and you can’t run double blind studies. All that is to say, it seems like everyone is just making their best guess whatever school of thought they subscribe to and just because they agree doesn’t mean they are correct.
Global tariff rates are documented on a map on Wikipedia. Go ahead and compare that to the wealth of countries.
I'll admit uncertainty in the sense that you might win the lottery. We can assign probability to uncertain events and I'd take a 10:1 bet against you winning the lottery all day every day.
I'd also get fat rich betting that tariffs will trash your economy over and over. The only reason I didn't drop that big bet is that Trump is flakier than the finest croissant and I'd get rekt if he changed his mind last minute. Why would I get rekt? Tariffs are so bad for the economy that just the looming threat suppresses markets, if he changed his mind markets would pump hard.
Snap shot of the top and bottom from that list;
0% - Aruba, Afghanistan, Angola, Albania, UAE, Hong Kong, Sudan
23% - Bermuda
20% - Cayman Islands
If it were as simple cause and effect all those countries at 0% should be well off and those at 20+ should not be. But it’s a complex system and there are more factors at play that simply the tariff rate.
That's a pretty solid cherry pick of the countries with high rates. Unless of course the person you are talking to knows the difference between a resort and the population.
Hong Kong and UAE are 2 of the wealthiest places on the planet.
As for the other 0s, you are capable of understanding that there can be multiple causes at play, right? That doesn't mean you can hand-wave negative effects it just means other factors might over power that specific negative effect. You would still be better off without that negative effect.
I literally just picked the top and bottom when they were ordered.
My point being, like you say, that there are other factors that have an effect.
Just because some poor countries have high tariffs doesn’t mean they are poor because of those tariffs and visa versa.
