Tariffs are not a new concept and have been used historically to build economies. Top China analysts in the Obama administration credited its economic rise to protective tariffs and high barriers to entry for any foreign companies to sell in country.
I’m probably a bit older than most lemmy users and remember when tariffs were a major talking point for democrats as a positive thing to protect American jobs. Hell, growing up in the Midwest, all my dad and his buddies that worked union jobs had to vote democrat because of their aggressive tariff policy to protect their jobs.
So what if trump is right about tariffs and it reinvigorates the American economy? Will people find another reason to credit the success to? Will it be the end of blue collar voting for the democrats?
Edit: Markets are rebounding hard, I bought low, glad Lemmy is full of pseudo intellectual economic morons. How is Lemmy going to cope now?
What we have seen before are small, narrowly focused tariffs. This is about as not- that as it’s possible to be and still be tariffs. So if Trump is somehow right the response will be to question everything we know about economics because we are now living in an alternate time line where taking a hammer to a complex issue that needs a scalpel will have somehow worked for literally the first time in human history. But, ya know, ask silly questions, get silly answers.