No. of Recommendations: 1
The reason this is so idiotic is that if tariffs really were a money-making machine, it would imply we should impose permanent 300% tariffs - or more! - on every single product from every singe country. It's only common sense after all, right? - G01
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That is just a variant of the worn out, "Just raise the minimum wage to $500 an hr and things will be great." fantasy.
Actually what should happen is when the delta between the cost of importing with a tariff versus make it at home gets big enough, entrepreneurs will deploy private capital to establish domestic production to tap into the profit potential, and that will increase jobs or as they sometimes say, re-shore our manufacturing. The end price to the consumer could very well be more than the pre-tariff import, but then again we don't use child labor and are more respectful to the environment in domestic production than the Chicoms, and there is value in that.
