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Wait... so Trump's tariffs WORKED!? Heavy-handed though they may have been in the application, Biden has continued them so they seem to have the blessing of the current administration. Wow... historians are going to have a hard time trying to separate stuff that was "good" (even a stopped watch is right twice a day) from the prior administration vs. all the rest.
It's great for Mexico though.
Trumps tariffs were intended to spark growth in domestic manufacturing, not Mexican manufacturing. Not to mention the fact that he also absolutely fucked over a huge portion of Midwest farmers with that choice also can't possibly be seen as "good".
There's this thing known as inertia. If Biden were to reverse the Trump administration tariffs, China doesn't have any reason to remove their tariffs on the US (which were made in response to Trumps tariffs) but would still benefit, especially with the huge rise of tensions between the US and China over Taiwan.
The only reason the tariffs are still in effect is that it wouldn't do anything good for the US to repeal or to have repealed them, not because they were a good idea.
Thank you for the explanation.
China's pandemic policies are what made US companies reconsider where labor had been outsourced. That work is now moving to India, Malaysia, Vietnam, Mexico. Many were pissed China demanded halts to production. The capitalists want their product made when they want it. Going forward, that will not as often be out of China.
This is the correct answer. Manufacturing company higher ups lost their shit when the spice stopped flowing to save human life
.. Tariffs DISCOURAGE foreign trade. So no, this worked IN SPITE of Trumps' retarded tarrifs.
The tarrifs were (and are) applied to China. Mexico, a signatory to USMCA, does not experience them.
They did work, to a point, but were also pretty hurtful to US economy. The company I worked for, which shall not be named, decided to move a sizable chunk of product manufacturing to Malaysia, and is (was?) considering Mexico as well, all because of the tariffs. This caused the stock to tank, and money was lost, but then, it proved pretty handy when covid hit.
I don't like Trump, and I didn't like the way tariffs were implemented, but I strongly agree the US needs to be less dependent on China. Tariff did the job somewhat, so I guess it wasn't a completely wrong decision.