I’d also go for the immediate imposition of a 25% tariff surcharge on imports from China. It is worth $91 billion first year to the Treasury. Hopefully it would decline each year as more production returned to the US.
Um, you might want to do a little research on tariffs in the Great Depression. It didn’t work out too well then.
I’d also go for the immediate imposition of a 25% tariff surcharge on imports from China.
Right. Drive us all into poverty in no time flat.
Look, I really don’t have the time to explain concepts such a “zero elasticity” and the legalities of our WTO legal obligations, but rest assured that even if China didn’t reciprocate - and it would - and the WTO didn’t slap a huge tariff on everything made in America - which it would - and the consumers who but all of this stuff actually didn’t buy it anymore - which they will - then you could make that Tariff a 100% and not 1 job would return to this country under the present (1970 to now) legal, regulatory, and labor environment.
Not one.