Re:US to ban transactions with ByteDance and WeChat in 45 days
by mlazos on Friday August 07, 2020 @08:28AM
(#24081106)
I used to be on this train that tariffs are always bad, but when other countries have them I think there is a benefit to the US having them. It allows the US to capture some of the benefits that this other country is taking. Yes everyone is worse off than without tariffs, but the US is slightly better off from the world where only other countries have them. There is also the additional caveat of industries moving to other countries because of cheap export back to the US - there is a benefit to keeping people employed especially when other countries don’t have ethical labor laws. This results in more expensive goods, but prices in externalities like workers not working in sweatshops.
Re:US to ban transactions with ByteDance and WeChat in 45 days
by ghostwriter on Friday August 07, 2020 @08:09AM
(#24080999)
> That's not trade, it's politics
Exactly the words you should be addressing to CCP, as the modern mainland China is not involved in fair trade, doesn't respect IP laws, and doesn't treat US companies equally on its territory.
That's not trade, it's politics. Any economist would point out that tariffs hurt Americans by increasing the prices they pay. Yeah, let's teach those Chinese a lesson by making goods more expensive and reducing our standard of living!