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Chainleft
@chainleft
Clearly tariffs will hurt a lot of people and the larger economy. It will affect not just Americans but the entire world negatively this and probably even next year. This makes me sad, but the data analyst in me can't help but be curious about the long term results for the US. There's a leftist argument to bringing production to local regions (even though Trump's vision is obviously oligarchs controlling that production and not workers as it should be). I don't believe it will be positive long term either. I'm just curious to observe.
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llamafacts
@llamafacts.eth
Given the level of automation and how easy it is to access these technologies now compared to a few decades ago, if production shifts back to the US it will likely be highly automated. The number of new jobs created will probably be much lower than the government expects. So while more taxes may be collected and US-based companies could benefit, I doubt it will significantly impact the jobs market—which seems to be the main goal of the tariffs (or at least that's how they're advertised).
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gFam.live (UrbanGladiator)
@gfam
Totally agree.... I'd say that given the higher wages expected in the US versus the countries where a lot of manufacturing happens, I think the only way US companies compete is with a high amount of automation. Usually though, you'd announced tariffs to be implemented a year or two later to give industries a chance to build their factories first.
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