If you want to destroy the American economy, go ahead, start using prtectionist methods like tarrifs.
If you don't think the rest of the world would react, your kidding yourself. look how fast, and how deep they reacted to a steel tariff. They are itching for ANY reason to slap on tarriffs of their own. don't give them any excuse.
Did I say anyting about protectionism? No, although I'm for it. I'm not calling for taxing foreign goods to protect our own industries. The problem with the steel tariffs is that it didn't address the problem at hand which in my view was the enormous cost of labor. If steel companies have to go out of business because they're inefficient, let them. I won't shed any tears. Tariffs will not destroy our economy, certainly not a mere one to two percent. We built our economy on tariff revenue.
You are correct, it is to late to save the American economy. We as did Spain and England before us by adopting "free trade" policies, will decline as a world economic/miltiary power. Europe has already over taken us in the very hi tech civilian aerospace. Japan and China have over taken us in ship building. Asia has already over taken us in consumer electronics and computers. And the list goes on and on and on. Soon, India will over take us in programming. We have a good lead in medical technology but India is catching up fast.
But we have plenty of forests and farm land so our children can surivive by supplies the more advanced nations with the raw materials thier economies need. Plus, the cost of living in poor nations is much lower that of advanced so we will should be able to attrack plenty of wealthy tourists from the first world nations of the future.