As I understand it: The long term vision is that by increasing the cost of imported goods, domestic goods will have an easier time being competitive. The short term vision is that tariffs can be used to bully other countries into doing things the U.S. wants.
There’s lots and lots and lots of examples of tariffs flopping tho. They have their place for sure I’d say but typically you end up with crappier products for a higher price. And that’s not even counting corollary effects like reciprocal tariffs or straining international relationships (which, surprise surprise, we’ve already seen both of and we haven’t even really started yet lol)
As I understand it: The long term vision is that by increasing the cost of imported goods, domestic goods will have an easier time being competitive. The short term vision is that tariffs can be used to bully other countries into doing things the U.S. wants.
There’s lots and lots and lots of examples of tariffs flopping tho. They have their place for sure I’d say but typically you end up with crappier products for a higher price. And that’s not even counting corollary effects like reciprocal tariffs or straining international relationships (which, surprise surprise, we’ve already seen both of and we haven’t even really started yet lol)
I guess that makes a little sense in a simple world. So, higher prices it is.