TARIFFS: Smoot-Hawley vs Trump's Tariffs vs Biden's Tariffs

[What Would Jesus Do?]

If, like me, you thought Biden's recent tariff proposals were terrible, what must you think about Trump's latest notion to phase out the whole tax code in favor of tariffs?

This is a good video for learning more about the Smoot-Hawley tariff, Trump's insane new ideas. But because of the source, Biden gets a pass.

 

[tarheelbybirth]

A big problem with Biden is over tariffs. They're just bad for the majority of Americans. Unfortunately, rescinding Trump's tariffs is a political disaster because too many people are convinced against ALL evidence that they only punish the other country.

 

[seminole97]

There isn't a valid economic argument for tariffs.
If China's government subsidizes solar panels for US consumers, that benefits US consumers.
There is a geopolitical argument for not creating dependencies on despotic regimes.

 

[RileyHawk]

There isn't a valid economic argument for tariffs.

Wrong yet again.

 

[TJ8869]

A big problem with Biden is over tariffs. They're just bad for the majority of Americans. Unfortunately, rescinding Trump's tariffs is a political disaster because too many people are convinced against ALL evidence that they only punish the other country.

Most people who support Trump tariffs are Trump voters who would never consider voting for Biden anyway.

Repealing Trump’s tariffs was one of the cornerstones of Biden’s campaign in 2020 and he got more votes than any other POTUS candidate in history. But we’re supposed to believe that as soon as he was sworn in he decided that repealing them would hurt his reelection chances?

 

[seminole97]

Most people who support Trump tariffs are Trump voters who would never consider voting for Biden anyway.

Repealing Trump’s tariffs was one of the cornerstones of Biden’s campaign in 2020 and he got more votes than any other POTUS candidate in history. But we’re supposed to believe that as soon as he was sworn in he decided that repealing them would hurt his reelection chances?

No you're supposed to believe he was sincere in opposing them.
He wasn't.

 

[TJ8869]

No you're supposed to believe he was sincere in opposing them.
He wasn't.

If what TarHeel is saying is true, and repealing them would be a political disaster, then why was Biden so vocal about planning to repeal them when he ran last time?

 

[seminole97]

If what TarHeel is saying is true, and repealing them would be a political disaster, then why was Biden so vocal about planning to repeal them when he ran last time?

Appealing to people who hated them simply because Trump was for them.

 

[Colonoscopy]

Wrong yet again.

Built Ford tough.

 

[Rifler]

If what TarHeel is saying is true, and repealing them would be a political disaster, then why was Biden so vocal about planning to repeal them when he ran last time?

When in doubt, automatically voice disagreement with anything Trump...

 

[wilson reborn]

I’m a big Biden fan, but both Trump and Biden have been awful on trade. It’s easy to wreck things, much harder to put things together.

 

[ft254]

I wasn't going to bring this up b/c I've been vocal about this in the past. Tariffs are the worst freaking idea in the world. They're a essentially sales tax paid by importers, not the export countries.

It would incentivize onshore production, but that is long-term strategy. The short and mid-range economic costs would be catastrophic. We are experiencing this with tariffs imposed in the Orange Turd administration, such as the price of appliances and electronic equipment.

This beeping dumb Orange genius plans to bolster the economy by penalizing the U.S. consumer is absolutely crazy.