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I mean, this will suck in rhe short term, but these companies will exit the U.S. market if it gets to be uneconomical, and we'll be fucked, not them. Trump's I Am sO sMaRt comments all the time will make him look like an even bigger idiot than he already does.
If we actually want manufacturing in the U.S., give companies incentives to do business here. This is the opposite of incentives.
What is looking like more of an idiot than he already does going to accomplish? He's the most idiotic politician in living memory, by far, and there are some absolutely colossal morons on that list. The people who haven't figured that out are never going to. They will be praising him until the day they die.
Never underestimate the destruction that stupid people in position of power can do.
He is a Reality TV star. People can not resist mocking Donald Trump. Mocking isn't resisting, mockery is all part of the Kremlin media techniques. The more idiotic he and Elin Musk behaves, the more people rush to their social machines and LOL. People can not resist his orange skin color, it makes skin color a constant topic (brown, black, white, orange, etc).
Introduction to the Kremlin media techniques of year 2014
Peter Pomerantsev September 9, 2014: Russia and the Menace of Unreality. How Vladimir Putin is revolutionizing information warfare
Adam Curtis, BBC, December 31, 2014: On The "Contradictory Vaudeville" Of Post-Modern Politics - "What this film is going to suggest is that that defeatist response has become a central part of a new system of political control. And to understand how this is happening, you have to look to Russia, to a man called Vladislav Surkov, who is a hero of our time. Surkov is one of President Putin's advisers, and has helped him maintain his power for 15 years, but he has done it in a very new way."
Book reading from December 5, 2014 on the subject by Peter Pomerantsev
It isn't quite that easy.
The US is a MASSIVE part of basically every luxury industry and isn't insignificant in many others. So while alternate trading partners can be found to handle stuff like lumber, plenty of industries are going to be hit real hard and not have alternative customers. And they aren't going to just want to lower their profits for national pride.
But yeah. I REALLY hope trump is just actively destroying the US either in the name of putin or just out of anger and spite over not winning in 2020. Because the alternative is that we are all going to suffer so fucking much because that piece of shit doesn't understand what tariffs are.
Luxury goods are not really hit by tariffs nor taxes the same way more basic goods might be. A $ 4000 that goes to $ 4 500 is way more manageable for the kind of people who want to and can buy it (it may even make it more desirable for those who want and can't buy it).
People won't discuss that this was all planned in a November 2013 Moscow meeting and announced one month later in December 2013... shortly before the February 2014 Ukraine invasion. https://lemmy.world/post/27627662/16165977
The effects of widespread tariffs is well known.
You will lose industry that makes high added-value products, and increase the production of products with low added-value. (Most people call this "deindustrialization".)
Tariffs mostly don't impact the overall trade balance, so there's no reason to expect that one to change.
Except, for example many Canadians, who are really fed up with being the kick ball for American Presidents (Trump has a lot of company when it comes to tariffs), who will do their best to not buy anything from the USA. I predict our trade deficit will go in the opposite direction that Trump hopes. The USA still needs to buy electricity, gas/oil, wood, and various other raw products from Canada. We don't have to buy finished goods from the USA since there are plenty of other countries to supply them. We really don't need to vacation there.
AFAIK, most low added-value products the US net exports are food. Also AFAIK, Canada mostly doesn't buy those, but the countries that do buy them won't just stop.
And since we haven't moved the needle on the minimum wage in decades, people will be making those low-added value products at starvation wages.
Well, yes, wages tend to decrease on that shift.
The glue eating rageaholic is doing the opposite of this. He's going to tarrif farming EXPORTS from the US.
Never in our history has america had such a stupid president.
Wait, what?
Like the CHIPS act? The EV and related items? Infrastructure? High speed rail (most of which has a made in us requirement)? What happened to those again?
The current administration is trying to pull the funding back even tho its been appropriated by congress. Funny how congress isn't doing anything about it.
The trump regime was designed to TANK the US economy so that stocks, businesses, and industries can be bought by billionaires at rock bottom prices.
All is going according to plan.