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by xp84
16 days ago
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Not GP, but what all economists have been saying is that tariffing industrial raw materials - industrial inputs like steel, aluminum, lumber, is idiotic because the companies that make machines, cars, houses, makes a lot more money per ton of metal that is made than the mining, steel, lumber companies (etc) made making the raw materials. So, that tariff makes a winner of a very few small employers, while massively screwing way more and larger companies who employ orders of magnitude more people here (and those jobs are better jobs too). And we are very competitive in machines, already set up to win. It’s also fantasy that even 4 years of tariffs will convince anyone to build brand-new smelting operations, as they’re very large, capital intensive, take a while to build. And again, mostly worse jobs. |
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This is the part everyone seems to forget. Any "new" jobs would be shitty low paying jobs, and it would mostly instead need to be automation.
Tariffs transfer wealth to the 1% and leave shit jobs that pollute the environment, which also happen to raise the cost of all goods, for everyone else.