>>3763668>$.30 an hour
Thanks to China adopting a more conventional market-based system in the 80s wages have increased after the country had stagnated economically for the 60 shit-tier Maoist years prior.>They are what America was 100 years ago
They have the gdp of where America was 14 years ago, and just four years before that they had the gdp of where America was 56 years ago.>spiteful self-punishment.
High tariffs were also the norm for much of U.S. history up until the mid-1940s, well after the United States was an established economic powerhouse. They're not good but they're not all bad-consider how the U.S. didn't even have income taxes until 1913, the federal budget was almost entirely covered by tariffs.
It's amazing how many progressives suddenly became principled libertarians once the subject of tariffs came up. Temporary tariffs, they say, will increase the cost of everything we buy, but doubling the minimum wage supposedly wouldn't>We don't need China and India buying our shit
Any countries buying our companies' goods and produce or relying on their services is a good thing.>Like shooting yourself in the foot to avoid racing someone
Tariffs serve multiple functions-when used properly
You are incentivizing companies both domestic and foreign to build local facilities and hire local workers in order to have access to your country's pool of consumershttps://www.usatoday.com/story/money/2018/06/25/harley-davidson-eu-tariffs-trump/729958002/
You are preventing foreign companies without a physical presence in your country from out-competing similar domestic ones which, depending on discrepancies in relative currency values, wages and regulations etc. could easily be done in a more laissez-faire market environment.
You can also use targeted tariffs on a country whose trade imbalance with you is so stark that they can only offer token resistance to them as a bargaining chip for more favorable trade conditions.>CAPS LOCK
Not an argument