I am not a fan of tariffs. Tariffs are a tool of government economic planning. Government economic planning seldom works in the long run. We’re seeing that they have a downside even in the short run.
The only argument for tariffs I’ve heard that makes any sense is that you need the threat of tariffs to get trading partners to reduce their tariffs. But whether that’s a good argument depends on whether they actually have that effect. So far I’m not convinced they do.
“The only argument for tariffs I’ve heard that makes any sense is that you need the threat of tariffs to get trading partners to reduce their tariffs.”
The PPACA increased US costs by at least 5%.
A 5% tariff is need to offset PPACA costs to level the playing field.
The PPACA isn’t the only thing making the USA a costly place to manufacture. There are waste disposal laws, Medicare/Medicaid cost shifting, etc.
The PPACA isn’t going away, the EPA isn’t going away, and neither is the need for tariffs on foreign made stuff.
There also Chinese communism. The Chinese government owns all urban land and makes a pretty yuan off of it. The key plank of the Communist Manifesto makes Chinese real property costs $0. This thieving communist cost advantage needs to be offset by tariffs.