While I agree the news does sensationalize things, history typically doesn't. Even looking back through the relatively recent history of the US, tariffs typically do more harm than good. One example is the Smoot-Hawley Tariff Act. Pretty much any historian who's studied the Great Depression agrees that this Act prolonged the economic downturn.
It's also very hard to produce stuff in the US at the same cost as it is to produce it in China. American workers expect more money with benefits and other perks. That's not the case in China and things can and are manufactured significantly cheaper. This means companies can sell products at the same rate while making more money, this is better for investors and thus the economy. If they need to move production domestically, two things will happen, either the company will make less profit while still selling the goods at the same rate, or it'll pass along the additional cost to the buyer. If buyers can't afford the product any more the company will either start selling it elsewhere or go out of business, either way people lose their jobs.
The best way to run the economy is to let trade be completely free. This allows goods to get manufactured in areas where it's cheaper, which leads to investors making more money. From there, those investors will reinvest the money or buy additional goods with it which keeps the economy rolling.
Even Trump himself does this by manufacturing his clothing brand (along with his daughter's) overseas.
The US still makes a ton of stuff, however, it relies heavily on cheap materials from other countries.
The government should never interfere with attempting to artificially run the economy. If you need a reason why just look at the piss poor job it does running pretty much anything. Healthcare is a mess, social programs are out of control, we can't take care of veterans, the post office is always on the verge of bankruptcy, and even the debt is getting more out of control every day. Frankly, I want the government out of my life as much as possible because all its going to do is make living harder in some way while taking a stupid amount of money from me each paycheck. When
@Danoff posted his tax thread, it made me actually look and see that I was paying more than my fair share of taxes each year and for what? So the government can continue to run the country into the ground?
And it's not just Republicans either, Democrats are ruining the country just as much. Both parties are beyond worthless and only serve whoever gives them the most money. Give me someone who wants to work for the people while understanding the limitations of the Constitution and letting me live my life.
Furthermore, the tariffs Trump put in place are unconstitutional. According to
Article I, Section 8, only Congress has the power to levy tariffs. But, citing national security, Trump circumvented that despite nothing showing that countries where a true threat to national security to begin with - especially since some of the tariffs have been levied against longtime allies. This should concern anyone and people, as well as the courts, really should question the legality of the tariffs - which I firmly believe are illegal and an actual breach of power among the president instead of the narrative that he conspired with Russia.
I know, but most Volvo fans I know also have an affinity to Swedish culture. Quite a contrast to what your political beliefs. It was just an observation and nothing more.
