rish on Warpcast

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rish pfp

Democrats and Republicans fully differ on whether Trump’s tariff policies help or harm the economy if implemented like he says Anyone with good, informed takes on this?

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Metaphorical pfp

I’m old enough to remember when Republicans were defined by free markets and free trade.

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nomygod pfp

idk does paying more for stuff sound good or bad

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Cool Beans 🌞

@coolbeans1r.eth

obviously increasing the costs of incoming goods will directly affect the price of those goods. why would we have to debate this. 😅

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Tayyab - d/acc pfp

Tariffs will always raise prices domestically. It is a protectionist policy to help struggling domestic industries from global competition.

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𒂠_𒍣𒅀_𒊑 pfp

𒂠_𒍣𒅀_𒊑

well, there's the "McKinley already succeeded at it" vs some of the other consequential dynamics in the earlier half of the 20th century. also, there's the Chip War perspective, where our supply chains are completely exposed to negative-sum, "beggar-thy-neighbor" dynamics. otoh, comparative advantage is self-evident, but it supersedes & degrades nationality.

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will pfp

generally think scott sumner is on point w economics idk his best piece on the topic but found this one relatively easily: https://www.econlib.org/tariffs-are-taxes-on-trade/

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tyler ↑? pfp

I’m not a fan of them in general, but from what I understand the best case scenario is that while it makes foreign goods more expensive, if there are somewhat readily available domestic alternatives, then while it will increase prices, revenue stays “here”.

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Mike | Abundance

Like everything else, it's a tradeoff. Neoliberal policies (aka globalization & free trade) led to lower prices for consumers but also to deindustrialization, and knock-on effects like the opioid crisis. The way Trump describes tariffs it sounds like he's pursuing a policy to keep companies from building factories overseas (& getting foreign companies to manufacture in the US) - not merely reducing trade deficits. So that could potentially work to some extent. Whether it would work is a diff question, cuz the tariff war with China was not very successful. Not an expert on this but I do have a degree in economics fwiw

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simon pfp

https://www.cnn.com/2024/10/23/politics/nobel-prize-economists-harris-economic-plan/index.html

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matt 💭 pfp

Protectionist economic policies are generally short term publicity stunts, that in the long term will do more harm than good and there’s plenty of real world examples: just look at what happened during the rise of Japanese car imports during 1970s-80s. It made cars more expensive for US consumers, US manufacturers less competitive (quality suffered), and in the end, Japanese went into luxury market and started kicking ass there too (Lexus). To me, the import tariffs are the worst approach to economic protectionism. You wanna be more competitive? Ask what’s holding local businesses back and then do everything to ease those burdens, but who am I to question Trump’s economic advisors? I’m just some dev, who’s not even American.

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Angelus pfp

Everyone cries about rising costs, because this place is full of leftists and they do not care about the good things that would happen to made in America :)

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Jack Wyldes pfp

@jackwyldes.eth

looking for the the same thing

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