Okay so there are ten other threads going on tariffs and probably this question fits under one of them rather than make a new thread. But I can't search around through them now because they are scattered around a bit. But just play along with my question because I am just looking for the replies, if any, and don't have a dog in the fight. So, for example, regular poster El Ocho Concho gets a burr under his saddle rather regularly about tariffs and how people are allegedly too stupid to understand that tariffs are actually a cost that American consumers end out paying. Find I dont have issue with that point. And our commie friend Usual Tard makes his various points about tariffs and how they are allegedly being used, abused, whatever. Fine I don't have issue with that. And let us stipulate that each trade scenario and country has its own story so a "one size fits all" type of approach can be problematic. And sometimes one country has a tariff but has made concessions in other areas to help the U.S. so there is an equalizing/compensation that does not show in looking at just tariff rates alone, etc, etc. But having said that, in a simplified hypothetical or actual scenario, with all other factors being equal, what are the arguments against the United States imposing tariffs on a country at the same level they are imposing on us to do business there? There is always the argument that all tariffs are costly and hinder free trade. But then again, there is also the argument that in such a scenario both countries can also agree to drop tariffs so that is ends out being a net benefit to consumers. What else do I need to consider here?
https://budgetlab.yale.edu/research...al-effects-illustrative-reciprocal-us-tariffs Because income rises across the distribution more steeply than the tariff burden falls, the tariff burden in dollar terms is higher at higher incomes (bottom panel). For a household in the second lowest income decile, the tariff proposal leads to consumer loss of just under $1,300 per household on average when countries retaliate. For households in the middle, the burden rises to $2,100 per household on average, and for those in the top tenth, it averages $5,400 per household.
Fair trade is good for competition if trading with free countries. Don't trade with tyrants. Tariffs are away to force local investment and protect a countries essentials. Wall Street stripped essentials from the USA causing Trumps reverse globalism.