ricardo marty wrote:Countries need tariffs to make money. Australia should reciprocate by imposing tariffs. 10% is really nothing at all.
You don't make money by having
tariffs, they are just a tax that hit those with the least wealth the hardest. That's all it is. Here's the best-case scenario:
ricardo marty wrote:Us companies have migrated to other countries, and he is trying to bring them back. It's so easy to understand.
What should also be easy to understand is that this isn't just about "companies", it is about production. Rather than just bringing back "companies" what you're really talking about is businesses AND production.
So take any item that the US imports a lot of and then consider how long it will take to a) convince a business,
any business, to start production of those goods in the US, b) create a business plan for such establishment or migration, c) funding that, d) actually executing it.
Suppose we're talking about cameras. How long does it take to build factories for the components needed
and staffing them and then starting to sell domestically?
Take that time and imagine what the tax (
tariffs) does to the economy before that product is on the market, and consider
all industries this applies to.
If the US cared about keeping production in the US it probably should have been decided before NAFTA was enacted.
Edit: Add the fact that you either then want low-cost labor to build things or educated personnel, and if you don't have enough educated personnel already you'll need to import people, and you know how the current admin feels about that, which then leaves you with educating people domestically, which takes years...