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greg
@gregfromstl
Maybe I'm just feeling controversial, but I don't understand what's wrong with retalitory tariffs. What am I missing here? Are we actually not being "out tariffed"? Or is there a reason other countries should have higher tariffs than us? I have zero expertise on this topic and see a lot of complaining but very little explaining. Could someone break down why the current approach is bad?
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youssef
@yssf.eth
well first they’re not retaliatory, as of now the US charges much more than every country (including those that import more from the US than export, are you retaliating because they give you money?) but even if countries were charging their importers a lot more than reality, it doesn’t mean it’s a bad thing for the US, it’s actually the opposite: the US got to climb the value-added ladder (think Apple, MSFT etc) while getting cheap goods/materials from the rest of the world, it’s a process that made USD the global reserve currency because importers pay in USD, which in return goes back into funding US bonds, it’s a system designed by the US to keep the US rich. These high tariffs are essentially saying “the US is too rich let’s make ourselves poor again”
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youssef
@yssf.eth
the other big problem that gets everyone mad is that, whatever the goal is, these tariffs are doing the opposite: if you want to bring back manufacturing, you’re more likely to force out the little US manufacturing that still exists because it relies heavily on foreign goods/materials; but if it’s all a lie/plot to get countries to sign free trade agreements then you are not bringing manufacturing back to the US and ironically you are giving a great deal to everyone else because Americans are the biggest consumers is the world
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