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.
Silicon Valley didn't care about the rust belt, so why should the rust belt care about SV?