this post was submitted on 19 Mar 2025
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politics

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founded 2 years ago
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  • While tariffs would raise revenue for the US government, that revenue would come at a high cost to the American economy overall.
  • Tariffs are redistributive. Some domestic producers benefit but at the expense of other people and businesses in the domestic economy.
  • History shows tariffs raise costs and prices and lead to lasting economic harm such as lower production and living standards, whether we keep importing goods or switch to domestic alternatives.
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[–] inclementimmigrant 1 points 6 hours ago

Reminder that Trump's last stupid washing machine tariffs resulted in less than 2k jobs when Samsung and LG opened up factories in the US. Caused washers AND dryers to go up by 100 dollars because capitalism, resulted in American companies like whirlpool to continue to shed jobs, and permanently lost America agriculture market share.

[–] foggy 21 points 2 days ago* (last edited 2 days ago)

And did the tarriffs work?

Anyone...?

Anyone...?

They did not work, and the United States sank deeper into the great depression.

[–] [email protected] 12 points 2 days ago (3 children)

Feels like they're trying to cause a global depression that lets them buy everything on the cheap.

[–] Jhex 1 points 1 day ago

That only works if things recover... The way trump is doing it, recovery is highly sus

[–] [email protected] 5 points 2 days ago

Crisis capitalism, just as we saw in the wake of 2008

[–] [email protected] 5 points 2 days ago

Except the world is getting tired of it.

[–] [email protected] 5 points 2 days ago

No worries, I’m definitely not buying American