What are some thoughts on Trump's tariffs?

in economics •  12 hours ago  (edited)

For context, this is a question I answered on Quora

I think Paul Craig Roberts hits the nail on the head in his Global Research editorial:

If Trump was smart on Trade and actually wanted to incent on-shoring he would 1) not surround himself with Tech Bros responsible for offshoring jobs and replacing American workers through H1B visas and 2) would chide Congress to raise taxes on corporations that offshore jobs and sponsor H1B visa holders who they pay less than 6 figures incomes. Congress could then offer tax credits for every job brought back into the U.S. whether it’s IT or manufacturing. Of course, Trump has already committed to slashing corporate taxes across the board so all we have left is an unwinnable trade war with our neighbors and the country that produces 80% of our rare earth metals, something you need to have things like batteries and a modern military with 21st century technology.

Instead of rethinking this decision it appears Trump has decided to double down on his stupidity.

USA Today: Trump to Impose 25% tariffs on EU

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