RemyR
Silver Belt
- Joined
- Sep 2, 2002
- Messages
- 14,184
- Reaction score
- 23,572
Yep, tariffs are no different then a tax, the government gets the money and the people pay for it. He makes it sound like the other countries are the ones paying for it but it's simply a lie. His clapping seals are the only ones who think its a good idea, I'm not sure any economic experts thinks this is a good idea.
The problem is it's a half done strategy. Most economists think a minimal tariff is a good thing and should be combined with tax incentives to build industry here. Trump hasn't done that though and instead tosses out random ass tariffs made up by our trade deficit which is dumb.
As an example, the African country of Lesotho. We have a huge trade deficit with them so Trump imposed a 50% initial tariff on them. The reason we have a trade deficit with them however is because... they are dirt poor since they are a small African nation. Their primary export to us is textiles. Trump has since reduced this to a 15% tariff but again, this is dumb as it doesn't resolve anything except make Lesotho even poorer. And even though Lesotho isn't really our problem, it's just a weird thing to do to randomly punish a country.
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