Comment on Trump’s tariffs might actually be working as he intended
Bronzebeard@lemmy.zip 3 weeks ago
Even the industries that the tarrifs are designed to directly protect are seeing massive layoffs and closures because everything else is costing way more.
This is straight delusional
Lovstuhagen@hilariouschaos.com 3 weeks ago
Some amount of that is happening - mostly in the nations that are producing these goods, like China and even Korea to some degree. Massive closures in factories and completely retooling some of them to produce for the domestic market.
Bronzebeard@lemmy.zip 2 weeks ago
No. US companies, with protection set in the US.
Cleveland-Cliffs - laying off 600 from its steel plant and another 630 between 2 iron mines. Due to decreased demand caused by the idiotic tariffs.
US Steel is closing down a steel plant.
Sinclar Group Forest Products - reducing by 40% the output of their sawmills.
A multi generation family owned lumber mill in Georgia just shut down. Owner was a trump voter who blamed the tariffs for it. Even he admitted they aren’t doing what was claimed.
Tariffs increase prices, which reduces demand. They ultimately hurt even the industries they’re designed to protect. That’s why we stopped doing this shit on this scale a century ago. But we have an idiot who doesn’t know history in charge. Even Reagan admitted they were stupid.
Lovstuhagen@hilariouschaos.com 2 weeks ago
Obviously, things like that are happening and will happen, but it is also the case that tariffs are employed throughout the whole world to protect nascent industries and improve the trade deficit. The economies are adjusting in the short-term for changes that should continue in the long-term.
… And this is the funniest aspect of Trump’s economic policies: he is making liberals the world over make hypercapitalist arguments about free trade.
Imagne being a progressive far leftist and believing that the government interfering too much in the economy* is bad*.
Bronzebeard@lemmy.zip 2 weeks ago
These things wouldn’t be happening if we didn’t have a moron, against every single expert 's advice, repeat the same exact tariff mistakes that helped bring about the great depression. An idiot so dumb he still doesn’t know how tariffs work despite dozens of people explaining it to him.
Imagine thinking people want just any old interference in the economy as if that’s the end goal, not a specific result?
People want affordable services without a useless middleman extracting profit and making the entire system worse in exchange. Not shovelling taxpayer money at the biggest corporations on the planet and claiming its a free market, like the right.