The US economic might was built on tariffs protecting american businesses. We became the largest economy in the world in the late 1800s due partly due to tariffs. It's also why europe, japan, korea, china, etc used tariffs to become economy powerhouses.
It's true that it can hurt consumers, but given how big our economy is and the resources at our disposable, I highly doubt it. Also, it could hurt american businesses globally, but considering the US is the biggest market in the world, I doubt it.
Also, anyone who believes Trump is propping up russian steel is watching way too much CNN, MSNBC, etc.
As everything in life, tariffs aren't all good or all bad. It can be good, it can be bad. To make a general claim that "it's not good policy" is factually incorrect. History proves this.
"Tariffs help US businesses and american workers. It's why the first major act of congress was a tariff."
Well, one can argue about whether or not tariffs help domestic businesses and workers, but that was not the reason tariffs were one of the first major acts of congress.
It was one of the first acts because tariffs were THE major revenue source for the US federal government. Remember, those were the days before things like income tax.
Absolutely, like most things economic, we can debate the merits forever. But what's not debatable are economic and historical facts. The blanket claim was that tariffs hurt US businesses and workers. We know this is factually incorrect because we can look to the US economy and businesses in the 1800s where we rose from a relatively underdeveloped nation to the largest economy in the world with the world's largest businesses under a tariff heavy century. We can look to west germany, japan, korea and now china also.
Now that doesn't mean tariffs never hurt businesses. My belief is that tariffs can help or hurt businesses. I don't like ideological blanket statements like "Tariffs are always bad" or "Tariffs are always good". Tariffs are a national tool. Like any tool, it can be use for good or bad.
https://www.encyclopedia.com/history/encyclopedias-almanacs-...
The US economic might was built on tariffs protecting american businesses. We became the largest economy in the world in the late 1800s due partly due to tariffs. It's also why europe, japan, korea, china, etc used tariffs to become economy powerhouses.
It's true that it can hurt consumers, but given how big our economy is and the resources at our disposable, I highly doubt it. Also, it could hurt american businesses globally, but considering the US is the biggest market in the world, I doubt it.
Also, anyone who believes Trump is propping up russian steel is watching way too much CNN, MSNBC, etc.
As everything in life, tariffs aren't all good or all bad. It can be good, it can be bad. To make a general claim that "it's not good policy" is factually incorrect. History proves this.