Wow this administration is f**ing batshit insane. I thought the tariffs would be on raw metals, not anything at all that happens to contain them.
Price I pay is not getting my $20 fairy lights that made my backyard look cute. The price foreign factory workers pay is that they’re out of a job. I don’t think Americans pay the most, but they do pay.
Edit: Clearly people are missing the point Im trying to make here. I’m trying to address the viewpoint that Americans will somehow lose the most, which i don’t think is the case. This isn’t a pro tariff argument. American consumer is the biggest market there is on the planet. Pretending we can just find other buyers is ludicrous. Yes, there will be some jobs affected domestically, but that number will be much higher elsewhere.
The EU is making moves right now to position itself as the preeminent center of world trade.
Losing that position will hurt Americans more than anyone else.
The EU being what it is considering to start planning to make a plan to take moves to plan these moves.
Then it will have to align those plans with all its members etc.
I can’t wait to see what will happen when German auto industry crashes. It will be a very very interesting domino fall. Unfortunately I’ll watch it from inside, so it won’t be fun, but it will be interesting nonetheless.
Export markets will of course collapse outside of the very high-end. But that has been slowly occurring over the last few years anyway.
I think there will be even stronger trend of european brands put on Chinese made cars. Like Renault is already doing with Dacia Spring. Brands themselves will survive, even companies themselves may survive, but many of them may be just headquarters. Moving production means supply chain follows. And that's where most of the jobs are. Over time R&D will follow factories. So for the job market it could be pretty close to full-on crash.
Because they believed the actually had a chance of remaining competitive in the Chinese market.
Turns out that was highly delusional in hindsight.