American Living Standards Are A Sacrifice Trump Is Willing To Make
www.huffpost.com
Trump and his allies say short-term economic pain, through higher prices on consumer goods, is worth the glory that tariffs will bring.

Summary

Trump’s sweeping global tariffs are causing rising consumer prices, market losses, and job risks, but his administration defends them as necessary for long-term economic independence.

Critics warn the tariffs hurt low-income households dependent on cheap imports, especially from China.

Officials argue the American dream isn’t about “cheap baubles,” but higher living standards. However, economists say tariffs worsen inflation and housing affordability.

Despite past GOP support for cheap goods, MAGA allies now downplay short-term pain.

  • mctoasterson@reddthat.com
    6·
    12 days ago

    Even if the stated goal was to reshore large amounts of production of goods to the US, there are several problems with that.

    One, history shows that it is largely not possible, at least in any practical sense. US companies make t-shirts in Vietnam and Pakistan because they can sell them to consumers here for $10. Are US consumers magically going to decide they’re OK with an Old Navy (low quality) garment costing $35 instead of $10?

    Secondly, standing up manufacturing and distribution domestically isn’t an overnight thing. Funding, site selection, construction, supply chain integration etc. all take time. Trump thinks he can trade a few weeks of bad headlines and market hit, for some magically reappearing domestic manufacturing. It doesnt work that way. Even if it were possible, it wouldn’t create positive economic conditions on any kind of timeline sufficient to offset the negative effects real consumers are already experiencing.

    “Sorry little Johnny, not only can we not afford new Nikes for you anymore, but also you can forget about that Nintendo Switch 2 for Christmas because we can’t even order one. But at least we know your GED-educated uncle Jimbo in northern Michigan might be able to get a lower-middle class factory job assembling widgets again… maybe… in 2 years.”

    That isn’t a good economic pitch for most people.

    • Geetnerd@lemmy.worldEnglish
      1·
      12 days ago

      This is an intentional strategy to bankrupt most of the poors, so they’ll have to sell their property to The Nobility.

    • Geetnerd@lemmy.worldEnglish
      1·
      12 days ago

      Well, it won’t hurt The Aristos, just their maids, butlers, landscapers, chefs, drivers, cult members…

  • Treczoks@lemmy.world
    1·
    12 days ago

    It didn’t work out when the Republicans tried it in 1930. Now the US is even more dependent on foreign trade, this time it will be a disaster.