this post was submitted on 26 Nov 2024
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I mean, the idea is, that the tarriffed stuff becomes less attractive compared to the non-tarriffed stuff due to the higher price, so less people will buy it and instead the nationally produced alternatives thus strengthening the national economy and and weakening the tarriffed ones.
Of course that can only work with stuff that has nationally produced (or at least non-tarriffed) alternatives.
Exactly, the whole point of tariffs is to protect domestic industry. However, if that industry doesn't exist then what's being protected?
Almost always, the US companies given monopoly/cartel protection by tariffs, boost prices more than production. The emperor could make a deal next week, so long term investments are sketchy.