Re:Former President Trump is projected to win the presidency
by jampekka on Wednesday November 06, 2024 @04:45AM
(#42058789)
Plenty of people have good reasons to support tariffs. Free trade destroyed a lot of industries and adjanced communities and the free trade fans didn't give a damn about them.
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Re:Former President Trump is projected to win the presidency
by seanp2k2 on Wednesday November 06, 2024 @05:29AM
(#42059489)
Do…people really think that prices will go down when cheap foreign labor is off the table? Do they think we can establish replacement infrastructure at comparable costs in months or a couple of years? Will they want to work those jobs for comparable pay to keep the costs of goods stable?
Re:Former President Trump is projected to win the presidency
by jampekka on Wednesday November 06, 2024 @06:24AM
(#42060252)
Probably more like wages will go up when cheap foreign labor is off the table. Higher income offsets higher prices for industries where wages rise. For the currently well paid the purchasing power may drop.
Silicon Valley didn't care about the rust belt, so why should the rust belt care about SV?
Re:Former President Trump is projected to win the presidency
by gizzlon on Wednesday November 06, 2024 @08:22AM
(#42061887)
Will the wages increase more than the prices?
Aren't most things Americans buy imported or contain imported parts (for example all electronics)?
Won't a decrease in exports, because of other nations ti-for-tat tariffs, decrease wages for many US workers?
Re:Former President Trump is projected to win the presidency
by jampekka on Wednesday November 06, 2024 @09:12AM
(#42062556)
In aggregate things will get more expensive, but purchasing power of some will increase. Or at least that's the idea.
Re:Former President Trump is projected to win the presidency
by kelnos on Wednesday November 06, 2024 @02:47PM
(#42068221)
That "some" probably won't include most Trump supporters.
Re:Former President Trump is projected to win the presidency
by consteval on Wednesday November 06, 2024 @05:00PM
(#42070159)
The fallacy here is that US industries will even be able to compete with 200% tariffs.
They won't, and they can't, and they certainly can't do it immediately. It takes decades to build up the manufacturing efficiency and processes to compete with China. We lost all of it.
We will continue to buy from China because it will STILL be cheaper. And your goods will be 3x more expensive, and that's the best-case scenario for a lot of goods.
Re:Former President Trump is projected to win the presidency
by xnx on Wednesday November 06, 2024 @06:21PM
(#42071119)
High-paying, secure, union manufacturing job are never coming back. New factories are heavily focused on non-union workers and automation.
Re:Former President Trump is projected to win the presidency
by hackerNoose on Wednesday November 06, 2024 @09:16AM
(#42062620)
Cheap foreign labour is good for rich people but bad for poor people that they compete with, at least in the short term.