Tariffs: the dividing factor in current US politics. Does opposing the idea of tariffs make you a Democrat? I don't think so. But it does make you a more competent Republican.
Let us listen to what Ronald Reagan thought about tariffs:
Tariffs were harmful in the 1930's, deepening and prolonging the depression. Yet, the world was a different place back then. Technology was nearly nowhere. There were no semiconductors enabling modern electronics. Electricity was widespread, but not taken for granted throughout the countryside.
Industrial production was much less interdependent than it is today. It is therefore evidient that tariffs are more harmful now than they were about 90 years ago. Tariffs in the 1930's were multilateral: nearly all countries imposed tariffs on one another. Today's situation is slightly different to say the least.
US tariffs are favouring international trade among the countires in the rest of the world.
Trade embargoes and sanctions imposed by the US are generally requested to be followed by their allies. These embargoes are less likely to be respected if trade barriers cut off US imports from those same allies.
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