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Yep, it's going to make everything more expensive
(lemmy.world)
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this post was submitted on 24 Sep 2024
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Tariffs tend to make all sides poorer. We benefit from cheap imports, because those imports serve as inputs to our companies. Additionally, tariffs on our side tend to be matched by tariffs on the other sides which will hurt exports. There’s no realistic scenario where a broad tariff benefits the local economy.
in a similar way you benefit from first few cheap heroin doses. so, not really.
my country officials were bowing and saluting to china cargo planes carrying masks and syringes during covid and there were real fear they if they did not, the plane might not have landed. we had indeed no capability to produce syringes and masks at home.
being dependent on china, which is euro-atlantic civilization’s geopolitical enemy number one, is not smart long term strategy.