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And this is the absolute brain rot fantasy of tariffs that I keep explaining to these idiots, and keep getting blank stares or awkward silences.
Tariffs are 100% punitive, without a domestic/alternative sourcing strategy. They can work long term to reduce a foreign nation's competitive advantage in an industry while allowing a domestic industry space to exist, but that only works if there’s a domestic industry that already exists (at enough scale to meet demand) or a long term government program to nurture and build those industries - education/vocation training, regulatory concerns, infrastructure development, raw materials availability, etc
Tariffs Chinese steel/electronics/machine tools/etc into oblivion? Either buy the imported at a high price, or buy the domestic at a slightly less high price - but the cost is always carried by the consumer no matter what.
And then there's the ensuing trade war that always happens, with the countries retaliating with their own tariffs to the US. Tariffs are a lose-lose scenario, just like they were in 2019.
And they want to kill the CHIPS act, which was going to build some of that local supply.
IMO that’s the height of economic policy stupidity because if/when Taiwan gets invaded, China will own nearly all semiconductor manufacturing outside of the highest end fab houses such as Intel or GlobalFoundries. The future of domestic manufacturing is high tech or specialty like Corning glassworks or L3-Harris, even car manufacturers get beat out by imports with our current tariff structure