A smart approach would be to slowly dial stuff up so that manufacturers had, ya know, time to build and train for complex manufacturing plants in US.
But they’re not going to do that. The plants are where they are, they would take years to move, and American consumers will pay the new import taxes in the interim.
That’s all assuming Trump and Co wont buy up these factories and industries, and then inject them with federal stimulus money to ‘save america’
I’m sure in 12 months every major news station will be unhinged talking about one particular niche industry like baby diapers that is too important to let fail from these tariffs and it will be a complete coincidence that musk or kushner owns 90% of the domestic production.
They won’t just pay in the meantime, the local companies have very little reason to try to undercut foreign imports by a significant margin. Not enough manufacturing will come back to generate enough competition to drive down prices on most items.
A smart approach would be to slowly dial stuff up so that manufacturers had, ya know, time to build and train for complex manufacturing plants in US.
But they’re not going to do that. The plants are where they are, they would take years to move, and American consumers will pay the new import taxes in the interim.
That’s all assuming Trump and Co wont buy up these factories and industries, and then inject them with federal stimulus money to ‘save america’
I’m sure in 12 months every major news station will be unhinged talking about one particular niche industry like baby diapers that is too important to let fail from these tariffs and it will be a complete coincidence that musk or kushner owns 90% of the domestic production.
They won’t just pay in the meantime, the local companies have very little reason to try to undercut foreign imports by a significant margin. Not enough manufacturing will come back to generate enough competition to drive down prices on most items.