• While tariffs would raise revenue for the US government, that revenue would come at a high cost to the American economy overall.
  • Tariffs are redistributive. Some domestic producers benefit but at the expense of other people and businesses in the domestic economy.
  • History shows tariffs raise costs and prices and lead to lasting economic harm such as lower production and living standards, whether we keep importing goods or switch to domestic alternatives.
  • foggy@lemmy.world
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    14 hours ago

    And did the tarriffs work?

    Anyone…?

    Anyone…?

    They did not work, and the United States sank deeper into the great depression.