Quote:
Originally Posted by Dr.Brown
An international trade war "on the way"? What do you think has been going on for decades to our detriment? Why do you think everything seems to be made in China today? Previous administrations have looked the other way as countries have unilaterally imposed strict controls and duties on American imports.
Elon Musk (not exactly a "5 year old pillock") pointed out that China imposes a 25% duty on all American cars imported into China while we impose only a 2.5% duty on imported Chinese cars - a tenfold difference! He also noted that US companies cannot own more than a 50% share of any Chinese auto factory while there are five 100% Chinese-owned auto factories within the US. Does this sound particularly "laissez-faire"?
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If the US needs to put tariffs on imports from individual countries then that's fine, but its madness to impose tariffs across the board. Now all countries will all revert to protectionism. This will fuel inflation in the US (and other countries) and be bad for you guys overall....shooting yourselves in the foot. The EU is targeting Harley Davidson, Levi's, bourbon etc. This is clever as price rises on those products mean people in Europe will likely just buy other products/brands. In the US you cant avoid buying steel and aluminium so you'll still have to buy more expensive US steel and aluminium making everything you make more expensive and more difficult to sell abroad. Madness. Sad!