Trade wars and tariffs are usually a bad idea. I don't follow politics much, but I agree with about 40% of what Trump does/intends, and disagree with about 60%. It's like he wants to undue the economic growth we've seen lately. Too bad we can't hear exactly what his advisors think.
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Effect Upon World Sales - including Bolt/Ampera
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Very good point. As I say, I don't follow politics, so it may be the media spin that gave me the impression that Trump is pre-emptively raising tariffs in an attempt to level trade imbalances, and not in response to foreign tariffs.Trade wars are bad, but not responding to nations who are at war with us is worse. Having the world siphon off 3/4 trillion dollars each year while we passively sit back and watch is unsustainable and reduces the economic opportunities for all of us. You may have your millions that you want to protect, but we really should have some sympathy for those who are doing their best to provide for their family and achieve some level of prosperity. I'm willing to take a short term hit to better our future.
Let's take one example - China had a 25% tariff on our car imports, while their cars were taxed 2.5% coming into the US. In May, China agreed to lower that to 15%. Is that fair?
I'd like us to tell countries that we will be accommodating and will let them set the tariffs for their products sold in the US. Whatever the highest tariff is that they've set for our imports into their country, that's the rate that we'll tax all of their products. If they think that's unfair, eliminate/reduce their tariffs and we'll reciprocate. Let's make it a level playing field, and if we get our asses kicked, so be it. But something tells me we're still able to compete.
A recent podcast I listened to explained that it's best to respond to foreign tariffs in kind. Game theory was used to reach this conclusion, with the worst strategy being to not respond to opponents taking advantage of you, and the best strategy being tit for tat. The other side of that coin is that we must also reduce tariff if other countries do so. This makes sense as the best strategy in a relationship is to reward good behavior, and punish poor behavior.
Trump is a crass egomaniac, but far from an idiot. As I say, I don't agree with many of Trump's agendas, but they are reasoned.The risk is even greater with a President that is an idiot.
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