I’ve been reading up on the tariffs that were imposed during the Trump administration and I keep seeing mixed reviews about their effectiveness. On one hand, they seemed to protect certain domestic industries by making imported goods more expensive; on the other hand, there’s a lot of talk about higher prices for consumers and retaliatory measures from trading partners.
The thing is, these tariffs aren’t exactly popular among everyone. If we were to look back 1 year out, 2 years out, and even a few more years down the line, how will we actually know if this was a good move?
Surely there are some metrics or outcomes that can help us evaluate their success or failure. I guess it’s not as simple as checking stock market performance alone, although that’s probably part of it, right?
Is it primarily about looking at changes in trade balances with countries like China, or do we need to consider the broader economic impacts, such as job growth within certain industries? And how much weight should be given to the political ramifications, like strengthened relationships (or tensions) with trading partners?
I’d love to hear your thoughts on what metrics or indicators would help determine whether these tariffs were indeed a beneficial strategy. Thanks in advance for any insights!
Sir, this instance is called ‘No Stupid Questions’.
This is by and large - a stupid question.
I’ve learned a lot of people can tell me they are bad, but only a few can tell me why.
I hate the tariffs (and everything else about the orange man), I think they’re a terrible idea. But you’re absolutely right.
Especially right now, Lemmy is an extreme echo chamber. I agree with most of the things being echoed, which is why I’m here, but I also recognize it’s pretty bad.
Your questions was entirely reasonable, and well stated, and a lot of people are just being dismissive, insulting, or saying “just because”. And truth be told, the answer really is a complex one, and would require an actual professional to give a good response.
Yeah, I mean I don’t feel any better than Trump if someone asks me about tariffs and I just say “THEY ARE BAD, OBVIOUSLY”. I don’t feel like that’s any better than Trump’s approach where he just says “THEY ARE GOOD”.
I want to know the supposed theory behind them, if any. If there isn’t one, that’s a big red flag. The few people I know in real life that thinks they are a good idea all seem to share the belief factories will pop up “soon” and no one will care about China anymore. I don’t get it, building factories doesn’t seem that easy. The last time the US mobilized that quickly was WW2, and I don’t think we are that serious this time around.
I think it’s going to be bad but I want to put a measuring stick against it instead of just saying “THEY ARE DUMB”.