03-28-2024, 05:45 AM
Ok, economic truths are too hard to understand for some people... Let's try this one...
Even if you think protectionist tariffs are a good thing, you have to recognize that they will be selectively implemented by self-interested politicians beholden to their favored donors, and then administered and enforced by a litany of unelected bureaucrats and government employees operating by their own interests. Meanwhile, any misstep in application or execution will result in bruised relationships with other trading partners that have cascading effects around the globe - often resulting in increased geopolitical tensions and eventually war.
To believe that this is a good idea is to believe the idea that there are pious planners out there that will get these protectionist tariffs just right in order to increase manufacturing while minimizing damage to other industries, and they can do it just such a manner that it will not cause any ripple effects that could cause us harm.
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