The U.S gov’t last month imposed large tariffs of 42.61% to 289% charging the Chinese were dumping wire decks in the US.market.
Response : Government puts tariffs on imported wire but at who’s expense?
Government intervention into the free markets has a dismal & destructive track record.
Nobody ever wins a trade war. Call it what you will, price controls, tariffs, import taxes, price freezes etc.
Always instituted for ” noble reasons” yet, in reality, they’re just another means for government to justify picking winners and losers in the marketplace.
Tariffs will result in retaliation from the other side. This is nothing new. This is how trade wars start.
China will now retaliate with some measure of their own and the industries that feel the brunt of that retaliation then must suffer for no fault of their own.
In the end nobody wins and business suffers. What do you think?