this post was submitted on 24 Sep 2024
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It will make things more expensive for consumers. But workers will have better wages, due to there being more jobs.
The economy is a set of feedback loops. Kind of like the brain. Trump’s tariffs will make things more expensive in the same way quitting cocaine will make everything harder to do.
The tariffs only increase US worker wages if they are significant enough to promote domestic manufacturing. If we still can't produce the widget at home for the same or less expensively, then all we've done is create a federal sales tax on Chinese goods.