We urgently need more tariffs on goods made in China. The most important feature of tariffs is not the revenue but incentives they create. We need near total “friendshoring” by 2027
Tariffs are useless if you don't have investments to replace that product with local alternatives. Tariffs by themselves will not make the replacements appear (and here is the important part) with the same quality of the taxed product. Most countries that apply tariffs end up with inferior products and a monopolized internal market.
Comments
We urgently need more tariffs on goods made in China. The most important feature of tariffs is not the revenue but incentives they create. We need near total “friendshoring” by 2027
Tariffs are useless if you don't have investments to replace that product with local alternatives. Tariffs by themselves will not make the replacements appear (and here is the important part) with the same quality of the taxed product. Most countries that apply tariffs end up with inferior products and a monopolized internal market.