bitcoin4all on Nostr: I’m an importer. That’s what I thought when he put 10% and then later 25% section ...

I’m an importer. That’s what I thought when he put 10% and then later 25% section 301 tariffs on China. The market almost immediately absorbed them and repriced. People like to simplify that and make definitive statements like “consumers pay that through inflation” or, on the other side “China pays that through economy choking subsidies”. The truth is far more nuanced and is a little of both depending on the commodity. There will always be products that are advantageous to import/export and those that should be made domestically. On balance we should be moving back towards producing more domestically but that is hard to do as long as the US controls the reserve currency. The world demands dollars today and therefore needs to sell us cheap shit. It’s gunna be a wild decade as the world works towards a new equilibrium and technology disrupts existing power structures and drives deflation in opposition to central bank inflation.