Quote (WiziLiCe @ Sep 15 2024 05:34am)
What happens when the goods you bought are now worth 20-30% in order to account for tariffs? I'd argue it hurts the American consumers who enjoyed those goods.
What happens when Chinese electric vehicles cost 100% more in order to account for tariffs?
The answer: Nobody buys them. They aren't even sold at all. And it protects the US auto industry
There were about 6000 total Polestar 2's sold in the USA before the tariffs went into effect, costing $25000 for the base model. Now they cost $60,000 and I don't think its sold anymore. BYD's Seagull cost only $15000 before the tariffs, but only to the Chinese market, not exported overseas. The Biden administration isn't paying the federal governments bills with tariffs like our early founding father's administrations did, its just using tariffs as a way to ban foreign products without a formal ban, which the early Americans did more directly.
But meanwhile 654,888 Teslas were sold in the US in 2023 with a $45-52k price range for Model Ys, and now $76k for a model S
Peter Navarro was put in prison because he recognized a simple economic fact that every 'mainstream' economist has been trying to deny and avoid for decades now. The fact that if America became an isolated island nation with impenetrable Ur-Quan slave shields blocking all trade in and out, we would be able to sustain our own food, energy, housing, manufacturing, microchips, etc and Americans would be able to afford all these products on an unskilled worker's salary while raising a family. Something you cannot do in modern America with all the benefits of a system that believes """"
free trade is a positive sum game""""
Whether we're taking in the world's indigent population who take our jobs and send half their wages back overseas to benefit a foreign family, or we're outsourcing our manufacturing and energy production, or completely neglecting tech and auto sectors- we're doing it to the expense of Americans, not to our benefit. Protectionism isn't the answer, its the basic requirement. Its like we're immolating ourselves in the hottest flames of a burning building and the neoliberal economists are explaining to us why fire extinguishers don't work and sprinklers are heresy. Trump being right isn't enough, he might be too late.