this post was submitted on 04 Dec 2024
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If tariffs are increased and migration reduced, there is a good chance the working class will get more economic power long term. The inflation will sky rocket, but so may blue collar salaries. I believe that's i big reason why Trump won. Sometimes the gut or common sense triumphs the neoliberal dogma.
I doubt salaries will skyrocket, sure there will be more people being hired to meet domestic demand increasing but I doubt that companies will actually pay more to their employees. And even if they do I can't imagine that it will be a significant increase when taking into account the inflation that will be caused.
The tariffs don't mean that there will be an increase in domestic production. It means manufacturers will seek out a different source for cheap materials. If those happen to be domestic, that's good. Most likely they will be from some other nation like India.
Yeah I agree, I was just looking at it from the best case scenario that might lead to salary increases to show that even then it probably won't happen.