this post was submitted on 04 Nov 2024
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It could also mean that manufacturing of those might return to the US. Fuck Trump but US tech media have been insufferably partisan last couple of weeks.
It might, after years and years.
Thr problem with snap tariffs is it doesn't give the economy time to reorient. All of that overseas industrial capacity providing those imports has taken decades to ramp up, while US capabilities have atrophied badly. It will take many years for US manufacturing to fully catch up, and in the mean time the 50% or more price increase on tons of basic goods would become baked into the price of said goods and only drive additional crazy inflation.
And even if you ramp them up over time, there is not much business incentive to jump into the water immediately, and you have the same problem.
The article mentions consumer devices but this would also smack basically every single piece of commercial and industrial electronics hardware too and have a lot of knock on effects.
I don’t think anybody expects change to happen overnight and taking what Trump is saying at face value is a futile effort. Every world power is looking into self sufficiency to avoid another supply shock inflation like during the pandemic, especially with high risk of more regional wars with global impact. Dems want green transformation and chips to drive this but I’m not sure if that’s enough because it doesn’t eliminate dependency in other industries.
My main issue with this reporting is that it’s nauseatingly one sided. US is polarising very quickly at the moment and this only accelerates the process. Far right is gaining momentum because liberal media refuse to acknowledge why people vote for them. Trump will obviously screw blue collar people too but from their point of view at least he’s speaking to them.