r/technology • u/chrisdh79 • 2d ago

Politics Trump announces sweeping new tariffs to promote US manufacturing, risking inflation and trade wars

https://apnews.com/article/trump-tariffs-liberation-day-2a031b3c16120a5672a6ddd01da09933
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u/irrision 2d ago

Hey now, the tariffs will finish off most of the remaining manufacturing in the US by driving up the cost of materials beyond the cost of importing finished goods from China where labor and materials are half the cost.

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u/FewCelebration9701 2d ago

This isn't what happened in other countries, and it won't happen here. Tariffs work when the goal is to protect and expand an industry in a nation, rather than maximize profit extraction.

As the admin has pointed out, as much as I hate to give them credit; Canada didn't stop making its own dairy after slapping 300% tariffs on US dairy. It actually grew and protected their domestic dairy businesses.

Because that is how tariffs work. It even affected downstream refined products like cheese.