if there is no trade barrier, efficient countries/businesses will eat the inefficient
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but that is ok if every country has a niche
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but those who don't have a niche, they'll perish
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if tariffs are similarly high for all, the one with the trade deficit will be at loss
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and if they opt for not importing, the global quality of life will be seriously hit
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and then, the rich countries will predate the poor. because military power = economic power. poor won't be able to defend themselves
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US trying to force enter the inefficient beyond its already high trade surplus.
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those without efficiency niche will get destroyed, those with efficiency will get partially saved.
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US will become uncompetitive in the world where it is depending on raw material imports. unless it removes duty on those things
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US has destabilized/kicked a highly sensitive and complex domino system
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it is an act of global sabotage
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it is a mind-numbing gamble on global scale
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US should have exempted non self-reliant raw material imports
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because of retaliatory counter tariffs, US is shutting the global market gates on itself where other competitors are there without those tariffs
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only local nationalistic boycotts can help, temporarily, and to some extent...once the disadvantaged coerced countries lift tariffs for US. afterall, even US exporters wont be giving you anything without you actually paying for it.
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you don't need to protect your strengths.
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US is just trying, in futility, to protect its weaknesses while gambling to get into inefficient bazars for incremental export addition.
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China did all that, but dramatically increasing productivity and innovation, and long-term strategy, not in this crude fashion. this act of US only shows that US has run out of ideas, or is hiding some other underlying mega-crisis
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US is betting on countering impending inflation with increased revenue from exports. but inflation marred people are not the same as export incentive beneficiaries. this will lead to unrest in the masses soon.
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US policy is inclined towards corporates, but they too may be hit by avalanche of side-effects
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this act has been done/started with recklessness.
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all this may help China and its proxies
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those countries which are not in a position to negotiate tariffs may lost to those who can, further widening the rift between have and have not countries
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this is much more devatating disruption than it is looking to be
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it is equivalent to WW3
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may lead to unthinkable collateral damage and consequences unaffordable
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serious chances of down circuits in the global markets in coming days...
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unless US subsidizes the costlier imports, inflation of un-substitutable imports will be swift.
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habit changing of US consumers will be painful, and hence not happening
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susbidy anyways will be laughable, akin to funding the tarrifs on the very countries slapped with tariffs.
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till this mess is sorted out, global orders pipeline will crash/dry up
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it is covid like disruption in scale albeit with longer term serious disrupotion
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prices may shoot up globally for the items where there is a global scramble to replace US as supplier. and the prices may crash for the items which the supplier countries may divert elsewhere in distress selling once the demand in US slumps
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if the US feels that it is losing or realizes that it has blundered, it may opt for flexing its military might in frustration.
This may be the end of NATO alliance
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china may emerge as a saviour, albeit at a cost
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strong domestic economies may survive with lesser trauma.
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US currency will start losing its status as global currency
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is it the definitive beginning of the end of the US dominance?
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US has lost credibility and trust. It was still great, before this madness to make it great "again"
