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re: Trump's section 301 tariffs were successful. The data proves it.
Posted on 3/11/24 at 9:03 am to GumboPot
Posted on 3/11/24 at 9:03 am to GumboPot
quote:
ALL taxes are bad
Tariffs prop up inefficient producers. They will make products more expensive to consumers. They lower your standard of living. They are central planning 101 and give the govenment the ability to pick "winners and losers" like Trump did in China. Trump vowed to put tariffs on all Chinese imports then proceeded to do a nice "carve out" for Apple's iPhone which didn't see the tariffs.
Watch Milei in Argentina who chooses freedom and free markets over central planning. He has vowed to get rid of all tariffs, both import and export, by next year. It will be a real time "case study".
3
Posted on 3/11/24 at 9:05 am to frogtown
quote:
Tariffs prop up inefficient producers. They will make products more expensive to consumers. They lower your standard of living. They are central planning 101 and give the govenment the ability to pick "winners and losers" like Trump did in China. Trump vowed to put tariffs on all Chinese imports then proceeded to do a nice "carve out" for Apple's iPhone which didn't see the tariffs.
This is the textbook example of why tariffs are awful long term solutions. They create massive inefficiencies and open up black market opportunities. 
Posted on 3/11/24 at 9:12 am to frogtown
quote:
Tariffs prop up inefficient producers. They will make products more expensive to consumers. They lower your standard of living. They are central planning 101 and give the govenment the ability to pick "winners and losers" like Trump did in China. Trump vowed to put tariffs on all Chinese imports then proceeded to do a nice "carve out" for Apple's iPhone which didn't see the tariffs.
How do we combat state owned businesses in China? Subsidize our businesses or take ownership of said businesses like China?
BTW, Apple has diversified there manufacturing base by moving more manufacturing out of China and into India, which is smart.
Posted on 3/11/24 at 11:29 am to frogtown
quote:
Tariffs prop up inefficient producers. They will make products more expensive to consumers. They lower your standard of living.
That's the point of the article, it didn't make products more expensive.
Why do you think imports from Mexico and Vietnam increased?
The tariffs raised prices for imports from China as intended, so companies bought needed goods from other markets at a cheaper price.
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