Are they going to strengthen our Economy, or weaken it?
Are they going to drive up the cost of pretty much everything?
IMO, they are going to end up hurting the average person. Especially low income people/families. There is no way the Manufacturers are going to "eat the rising cost" of producing their product(s). They are going to do what they always do, PASS IT ON!
Honestly, I do not understand Trumps thinking on this. Tariffs never help in the way those imposing them want. Buckle up and start cutting Coupons now..... sigh ...........
I understand. I don't necessarily agree. However, time will tell if Mr Trump is right. It's also true that globalisation (i.e. the end of tariffs) have benefited the very few at the expense of multitudes.
Already some American companies have pulled out of China. If they return to America, that means jobs that were lost being restored. Australia is afflicted by the disease of ending manufacturing. We can't make a car tyre here. If ever we went to war with China, or even if China blockaded us, we would be in big trouble.
Mr Trump's strategy is to force countries to enter into fairer tariff deals. This is understandable when some countries impose massive tariffs while seeking to export to America tariff free. Some countries have already made deals. No doubt there will be winners and losers.
The question is will this strategy have the desired result? Globalisation failed. The rich have become obscenely wealthy while living costs have soared. At least Mr Trump is trying a different approach.
Having said all that, a real threat is the move to AI, automation and robots. The optimists say that there will be new, highly skilled workers required. That's all well and good, but who leaves college ready to repair a robot? We are seeing the end of taxi driving as a job. I'm real glad I'm not coming into the workforce now. I'd be learning robotics if I was.