But it affects the economies of both sides of the tariff war, does it not?
Why is the US imposing tariffs bad, but the rest of the world gets a pass on their tariffs?
Yes, they are bad for both sides
Why is the US imposing tariffs bad, but the rest of the world gets a pass on their tariffs?
Tariffs are bad and the rest of the world doesn't get a pass, but it matters how you do it. We built a machine to get rid of tariffs, and address IP issues, through much of western South America and most of non Chinese Asia. That was called the Trans Pacific Partnership (TPP). It would have presented a united front against China to get them to lower their tariffs and respect intellectual property more robustly. But Trump tore that up. Then earlier this year China agreed to import $70 Billion more per year for us. A first, but meaningful step. That looked like it was going to go through, but then Trump threw that out.
No matter what happens know, Trump has increased inflation which will eventually call out the Fed with more rate hikes which will just intensify the next recession and hurt the very people who now support these tariffs.