Someone mentioned a week or two ago on HN that the point of the auto tariffs was national security (maintaining the industry/expertise/etc. in the US, I assume), not economic.
They’re wrong. Lyndon Johnson imposed the 25% Chicken Tax during trade skirmishes with Germany to make Volkswagens more expensive, and later tapes surfaced showing this was actually done for political favors. It had zero to do with national security. As a result Americans pay about 25% more for light trucks of inferior quality ever sense, as a giant handout to the car industry.
So as usual, tariffs cost the country imposing them, returning less net goods, and moves money into the protected class at the expense of the wider public.
dataflow|9 days ago
SideQuark|7 days ago
https://en.wikipedia.org/wiki/History_of_tariffs_in_the_Unit...
So as usual, tariffs cost the country imposing them, returning less net goods, and moves money into the protected class at the expense of the wider public.
lucketone|9 days ago
It creates different incentives for the receiver.