Very true. There will be both positive and negative consequences. The negative will be less cheap goods flowing into America, and some foreign goods will be much higher priced. The positive is real jobs will come back along with productive industry. You may not be seeing authentic German sausages or rare cheeses imported from Norway at the deli anymore but you will be able to buy American produced food cheaper. That will be the trade-off for these tariffs: better jobs with higher pay but more expensive foreign goods.
Keynesian economists don't understand main street economics. Keynesian proponents only understand centralized ponzi schemes largely propped up by governments and endless money printing. To them, that is the economy.
If we restore a real economy for Americans, and have higher paying productive jobs and industrial growth, paying some taxes would not be such a big deal, at least we get something from it.
Well as opposed to the last 50+ years we've been paying taxes for our own self-destruction. I don't mind paying a little bit of taxes as long as we have a government that is doing what is right for average American workers and the economy is all I'm saying. It's one hell of a correction.
The Middle East’s poorer countries have been struggling with warped, barely functioning economies for decades. Jordanians and Egyptians watched Southeast Asia develop manufacturing industries that lifted millions out of poverty, whereas they withered under bloated governments, layers of red tape and an elite engaged in rent-seeking.
Donald Trump’s decision to tear up the global trading system on Wednesday with a torrent of tariffs is, therefore, being met with a mixed reaction in these countries. "We have lived through all this before. It’s not new for us," an Egyptian paper manufacturer who wished to remain anonymous, told Middle East Eye. "You could even say we have an advantage now because everyone else just got more expensive."
Indeed, countries like Vietnam and Cambodia were slapped with 46 percent and 49 percent tariffs, respectively. Because the Trump administration calculated its tariff rate based on the difference between how much stuff the US buys from and sells to its trading partners, cheap manufacturing powerhouses that had their acts together got hit hardest.
Countries like Jordan and Egypt have been trying to get into the game of low-skilled manufacturing for years but have been outcompeted by Southeast Asia. Although all countries will feel the sting if Trump’s tariffs spark a global recession, some sniff out an opportunity in a chaotic new world.
“The Southeast Asian tariffs are the ones that will make a difference for Egypt and the Middle East,” Hisham Fahmy, the CEO of the American Chamber of Commerce in Egypt, told Middle East Eye.
“This is absolutely a boost for Egypt’s garment industry. One of the main exporters just sent me a message saying this is good for us, but we have to see.”
https://www.zerohedge.com/economics/trumps-tariffs-could-be-boost-middle-easts-struggling-economies
Not one single clot shot for me either.