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Biden has been using tariffs

70.166.116.8

In Reply to: RE: I'm not entirely against them. posted by ghost of olddude55 on October 17, 2024 at 12:08:07

as an economic sanction against unfair labor practices in specific nations. I think steel is one of them. It might have some benefit for American steel but not such a good thing for American industries that use steel. Some of this might be have an effect on labor practices in other countries but seems more symbolic than anything else.
If we had a gainfully employed working class the detrimental economic effects of higher prices due to tariffs might be easier to take but with America's week to week middle class it's be mostly pain and suffering and for many industries as well. And again just pure higher taxes would be better than tariffs as a good chunk of the tariffs will go to industries effected by them. Higher taxes should go to keeping government delivering the services and benefits they've promised to deliver.
Everything I've read has said Trump style tariffs are a bad idea. Americans get by because of low prices afforded by imported products and have for generations.

Edits: 10/17/24 10/17/24

Follow Ups:

I know he let the tariffs on foreign-made washing machines expire. - ghost of olddude55 08:11:04 10/18/24 (0)
Reagan put tariffs on foreign steel, too late to help the US steel industry. He put tariffs on foreign motorcycles, too, and his voluntary import restraints on Japanese cars just resulted in higher car prices across the board.
Same with Obama's tariff on Chinese automobile tires. Domestic tire manufacturers raised prices to keep in line with Chinese made tires.
Tariffs create a price vacuum, and economics abhors a vacuum as much as nature does.
And we aren't going to save any jobs.
IMO, we need to increase revenue. No doubt about it. But there are much better, fairer ways.
And it'll be interesting to see how the MAGA crowd rationalizes 20% inflation.

The blissful counterstroke-a considerable new message.

Edits: 10/18/24

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