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The fundamental problem of Trump's tariffs remains the same as it ever was: You can't persuade anyone to build a new factory with a tariff that'll change before the concrete sets. So we'll get all the costs of tariffs, and none of the benefits.

Justin Wolfers

302,289 subscribers

184,030 views • 1 year ago •via X (Twitter)

News & Politics

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8 Comments

Make it Stop - Liberty and Justice for All 💙1 year ago

Donald Trump is a power hungry tyrant! #TrumpIsUnfitForOffice “Trump has and will continue to damage our economy and the world’s, and our culture, until and unless he is stopped.” - Ty Cobb, former Trump lawyer

Jan Coppens1 year ago

If you call local production at a much larger cost a benefit…

ComputerSage1 year ago

That is another reason why the BBB included a provision for 100% full expensing, which allows businesses to immediately deduct the full cost of certain capital investments in the year they are made. you would think a so-called economist would understand how these things work together

Richard Robertson1 year ago

Deconstructing the globalist's strangle hold on the planet is a plus.

Roger Hortin1 year ago

All this administration does is spitball.

ProfessorX1 year ago

They can just build factories in tents, a la Governor DeSanctimonious' #AlligatorAlcatraz

David1 year ago

@beyerstein Excellent point made about incurring the costs without the benefits. Only nitpick: 50-100 year time horizon is an exaggeration, no? Rein in those exaggerations and your argument is strengthened.

Bernard Silverman1 year ago

I'm no Keynes or anything but a capricious president viewing tariffs as whims can't be good for anything.

Related Videos

The point of a tariff is to make firms build factories at home. But if it's on Monday, off Tuesday, back on Wednesday, no one pours concrete. Chaotic tariffs give you all of the cost and almost none of the benefit.⁣ ⁣

The point of a tariff is to make firms build factories at home. But if it's on Monday, off Tuesday, back on Wednesday, no one pours concrete. Chaotic tariffs give you all of the cost and almost none of the benefit.⁣ ⁣

Justin Wolfers

29,373 views • 27 days ago

"No one in the business community feels confident that they know the status of tariffs next week, next year, let alone what really matters, which is next decade," Justin Wolfers tells @IAmAmnaNawaz. "As a result, we're going to get all of the costs of the tariffs, but none of those benefits."

"No one in the business community feels confident that they know the status of tariffs next week, next year, let alone what really matters, which is next decade," Justin Wolfers tells @IAmAmnaNawaz. "As a result, we're going to get all of the costs of the tariffs, but none of those benefits."

PBS News

15,962 views • 1 year ago

Trump: "I think we'll put a major tariffs on Texas-- on Mexico because of the lettuce. And we'll put a big tariff on Canada because of the smoke."

Trump: "I think we'll put a major tariffs on Texas-- on Mexico because of the lettuce. And we'll put a big tariff on Canada because of the smoke."

Aaron Rupar

535,205 views • 1 month ago

There's going to be a lot of talk about tariffs as Trump goes to China. So remember this - Trump's tariffs aren't trade policy. They are political weapons. You get exemptions from the tariffs if you pledge political allegiance to Trump. That's why we are losing factory jobs.

There's going to be a lot of talk about tariffs as Trump goes to China. So remember this - Trump's tariffs aren't trade policy. They are political weapons. You get exemptions from the tariffs if you pledge political allegiance to Trump. That's why we are losing factory jobs.

Chris Murphy 🟧

21,179 views • 3 months ago

Tariffs are a “bad form of tax," Adam Posen says, in terms of the costs compared with the amount of revenue raised, who pays the tax, & the chaos created. “Costs, chaos, corruption are the reasons you don’t use tariffs as a large-scale revenue generator."

Tariffs are a “bad form of tax," Adam Posen says, in terms of the costs compared with the amount of revenue raised, who pays the tax, & the chaos created. “Costs, chaos, corruption are the reasons you don’t use tariffs as a large-scale revenue generator."

Peterson Institute

30,480 views • 1 year ago

More proof the Liberals wanted tariffs all along. Mark Carney urged Brookfield Asset Management Inc. to move to New York to avoid Trump's tariffs. This is a company holding over $725 billion in assets as of 2022. So Mark Carney protected his personal business from tariffs, while basically cheering on a tariff war, for all of us. They will let Canada burn, while they cash in south of the border. “The letter says that the decision by the board, of which Mark Carney was at that time chair, was unanimous to move the headquarters and Canadian jobs to Donald Trump’s hometown of New York City.”

More proof the Liberals wanted tariffs all along. Mark Carney urged Brookfield Asset Management Inc. to move to New York to avoid Trump's tariffs. This is a company holding over $725 billion in assets as of 2022. So Mark Carney protected his personal business from tariffs, while basically cheering on a tariff war, for all of us. They will let Canada burn, while they cash in south of the border. “The letter says that the decision by the board, of which Mark Carney was at that time chair, was unanimous to move the headquarters and Canadian jobs to Donald Trump’s hometown of New York City.”

Bruce McGonigal

191,494 views • 1 year ago

A key point from this interview: the "benefit" of tariffs, if it exists, is delayed. You don't flip a switch and get a plant tomorrow. You wait years. It also follows that a tariff you don’t trust to outlast a mood swing won’t change where companies build at all.

A key point from this interview: the "benefit" of tariffs, if it exists, is delayed. You don't flip a switch and get a plant tomorrow. You wait years. It also follows that a tariff you don’t trust to outlast a mood swing won’t change where companies build at all.

Justin Wolfers

38,521 views • 9 months ago

BERMAN: Do you have questions about the timing of Trump's tariffs pause? Was it market manipulation? REP. CARLOS GIMENEZ: No. Actually, we had lunch with a major stock broker from New York and we were talking to him about tariffs and one of the things he said was, 'It's time to buy'

BERMAN: Do you have questions about the timing of Trump's tariffs pause? Was it market manipulation? REP. CARLOS GIMENEZ: No. Actually, we had lunch with a major stock broker from New York and we were talking to him about tariffs and one of the things he said was, 'It's time to buy'

Aaron Rupar

1,082,579 views • 1 year ago

All the Tariffs on this board are made up. For instance the UK doesn't charge the USA a thing, but has a flat 20% VAT on everything. The same with most of the EU with few tariffs on the USA, but various VAT rates, none of them anywhere near 39%.

All the Tariffs on this board are made up. For instance the UK doesn't charge the USA a thing, but has a flat 20% VAT on everything. The same with most of the EU with few tariffs on the USA, but various VAT rates, none of them anywhere near 39%.

BladeoftheSun

1,700,052 views • 1 year ago

Kinzinger: He has a fundamental misunderstanding of the role of tariffs. He really believes that the US is going to get very rich from tariffs. And this is going to close the budget deficit. That's not the reality. Tariffs should be used if you're fighting real unfair trade practices, but not against your friends, and not because you think you can raise money with it

Kinzinger: He has a fundamental misunderstanding of the role of tariffs. He really believes that the US is going to get very rich from tariffs. And this is going to close the budget deficit. That's not the reality. Tariffs should be used if you're fighting real unfair trade practices, but not against your friends, and not because you think you can raise money with it

Acyn

143,497 views • 1 year ago