Increasing tariffs won’t help bring industry back. See my immediately prior posts above - there are things we cannot make at any price in the US any more. One example is car and other lead acid batteries. Thanks to the EPA, as of this year we don’t have any more domestic lead processing capability. The lead mines all were EPA’d long ago in the US, and now the last US lead processor is gone. How do you propose tariffs could help this? The only thing this would do is mean nobody in the US got batteries at all or that they would cost a fortune, not that they would be made in the US again.
Most of the industries lost were not EPA’d out of existence. They were lost due to the wage differential between us and China.
The tarriffs which were lowered in the 1960’s. They served our country well. Right now an importer pays on average 1%, much much less than a domestic producer pays in employment related taxes.
So a tariff can help equalize the tax burden between foreign and domestic producers, offset the wage differential, and even help pay for the costs of having unemployed in the US.
Our founding fathers viewed tariffs as being a tax on foreigners wanting to do business in our markets.
There may be some industries that are so toxic that we want to leave them in China or other third world countries.
Most of the industries lost were not EPA’d out of existence. They were lost due to the wage differential between us and China.
The tarriffs which were lowered in the 1960’s. They served our country well. Right now an importer pays on average 1%, much much less than a domestic producer pays in employment related taxes.
So a tariff can help equalize the tax burden between foreign and domestic producers, offset the wage differential, and even help pay for the costs of having unemployed in the US.
Our founding fathers viewed tariffs as being a tax on foreigners wanting to do business in our markets.
There may be some industries that are so toxic that we want to leave them in China or other third world countries.