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by somenameforme
318 days ago
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As of 2016 (first search result) 90% of food/beverage is domestically produced = no tariffs. [1] The big goal with the tariffs, outside of gaining leverage on other countries, is to motivate domestic production and alternatives. Without tariffs it simply isn't realistically possible to compete in many industries because other countries have cheaper labor and less costly regulations. Of course the practical problem with this playing out in increased domestic production is that it's reasonably likely that in 2028 the tariffs will get rolled back, and any company that was depending on them to survive will die. That's a large amount of uncertainty for any industry where there's a significant income investment required to get going. [1] - https://www.ers.usda.gov/data-products/charts-of-note/chart-... |
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Not to mention that tariffs on directly imported goods reduce the lowest earners' ability to pay for domestic products.
If the goal was onshoring too benefit the population, it would be coupled with a strong wealth redistribution to the least wealthy to allow them to buy domestic goods. But that's not the goal.