I reported on the 25% steel and 10% alunimum tariffs proposed by Donald Trump this week
I'd love to hear from the Steemit libertarians their views on this. Of course, totally open and free trade would seem to be the libertarian view, since tariffs are a form of protectionism, ie force, used to disrupt a market.
Do you agree? Disagree? Let me know why! Let's have a discussion!
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Trump's stance on tariffs and trade wars are something I just can't get on board with.
I think you hit on one of the biggest problems, the guy at the bottom is going to be the one that gets hurt the worst, either by losing a job or in the short term, higher prices of goods and services.
And the fact is that protectionist tariffs rarely work, industries that benefit from these tariffs, historically, tend to end up relying on these tariffs indefinitely and it hinders economic growth. You might be able to argue that in the past it was partially the fault of poorly designed tariffs. But, non the less, a free global market drives effeciency and growth, which is good for the economy.
Now, this only works if all nation's play fair but, if we could get everyone on board with a truely free market, with limited government intervention (avoiding monopolies, dishonest business practices, etc.) I really think you'd see some serious economic growth.
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I actually don't know that truly free markets are the answer, but agree with your assessment about why the tariffs as proposed won't work well
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I may have painted a little too broadly with that comment. You're probably right, some form of regulation probably should be in place, I wouldn't be apposed to punitive tariffs either. I also think there are some areas of the economy where I don't think a free market really works, healthcare for example (though not really associated with tariffs or global trade).
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From what Trump said, it sounded as if his Tariff's were retaliatory to begin with. Tit for tat, if country (A) is going to be like that, then we can to. I don't know if trade wars conform to libertarian philosophy, but neither does violence.
However, libertarians will defend themselves if aggressed against, violently at that. Isn't a trade war if done in retaliation to trade-disparity, a simple act of national self-defense?
Btw, I do not believe that trump is a libertarian. I think a trade war is probably very fluid, so the net loss that you percieve would either be responded to with more tariffs or direct negotiation. Trump is seemingly good at negotiating.
So you'd think a trade war would result in direct dialogue, as many nations might simply not have the ability to win a trade war with U.S., and would rather simply compromise on something that is fair.
"it's easy to win trade wars" - lol I guess we'll see about that, it's big talk that's for certain, if he can back that up in reality it should be impressive to witness.
Ultimately, I think his threat about trade war is to bring weaker parties back to the table to try and work out something fair, to prevent a trade war before it even happens. I don't think he's trying to get a one up on other countries, but that's just a guess on my part.
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You have a very good understanding and view. I am doing more research, but if the EU has more than a couple percent tariff between U.S. and EU goods, then we should equalize.
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I don't know, am I crazy here?
Isn't this a good thing? Yeah, trade wars are bad for everyone, but they're bad for merchants. The people who're making 80% of the new wealth are the ones taking 80% of the damage. Yeah sure, products may go up in price, but that's debatable.
Products aren't priced based on cost, we discuss this all the time. A burger in New York from mcDonalds costs the same as a burger in Texas, as it does in Washington, as it does in Australia with their 20$ min wage... products cost as much as the buyer will pay. What's going to happen is the rich are going to have thinner margins. You say they're gonna take it out on us? Sure, but when they're making wider margins they're taking it out on us too, we just saw that hours ago with tax cuts and buybacks.
I say this as a canadian who's going to be hurt by the cuts. We need to stop exporting our steel and start making things with it. We're a 'resource economy', but our debt keeps going up?? How is it we're literally spending nothing on industry, and we're LOSING money? This technique's not working.
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I agree with the policy of the administration running out of free trade market because it well certainly weigh on their market
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WHEW!! STEEMIT!!
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STEEEEEEMITTT!!!!!!
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IMHO Trump is hardly aware of the diplomatic power of Europe. In Europe diplomacy is very advanced, because of the competition between countries. Just look at how they target specific republicans by threatening to raise import taxes in very specific products. I think the leader of congress for one? It looks like Trump is not even aware of the level of diplomacy that Europe uses.
I am Dutch by the way, and live there too. I have never been to the USA, so this is my view at things from far away.
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Trump's tariffs on aluminum and steel will hurt more than help. Canada will be affected most by the tariffs because they trade the most steel and aluminum to the U.S and Canada says that they will respond back if Trump's tariffs goes through.
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nice post, hallo bro. i am new steemit member upvote plz. and new ida
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nice post
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I don't think Mr Trump know's what he is doing , he say's big word's to impress business people , but does not impress the public in general
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He doesn't say big words, he says words that describe big.
Huge, big, tremendous, great etc..
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yes your right !
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Like most things Trump says, its a bunch of crap. He might not carry through with any of it and just likes to look as if he knows what he's talking about. But the constant word salad falling out of his mouth shows the world that he's an idiot.
Did you see the discussion on Democracy Now?
Also have a look at my recent post on morality and Vaclav Havel's Power of the Powerless .. I think it might be of interest ...
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Tarrifs are a tax on American consumers and American businesses that use those products. Trade defficits are meaninless in a free market.
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Protectionism in favour of us business is exactly what Trump preached during the election so it's no surprise that he pushes these policies. He also had plenty of suppprt from people in the coal and other industries and so he is ensuring future support from them come 2020 election. Trump is playing with fire as Europe, Brazil etc. will not stand idly by. They will sue America.
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