I am beginning to wonder if there is an actual plan behind these moves beyond creating uncertainty in trading partner's minds.
The stated goal of the administration is to 'reindustrialize' the US by manufacturing more of the goods consumed within the US itself. To get to that goal, tariff barriers are just one part of the story. For tariffs to be effective towards getting to the strategic goal, they need to be coupled with sound industrial policy and a long term execution framework. The three legs of the stool, so to say.
So far, there has been no mention of the other two legs. There is currently no serious bill proposed that aims to apply the required industrial policy and all of these tariffs being imposed under executive orders mean that instability in tariff rates and application is pretty much guaranteed. The very opposite of the stable, long term approach that is needed.
Without the other parts, there is a very high chance that the US will bear the brunt of the short term damage, but with none of the long term benefits.
There isn’t a serious plan to bring manufacturing back. You can debate whether there is a plan for high-pressure negotiations, insider trading or kickbacks (e.g. Nvidia’s successful deployment of a million dollar dinner at Mar-a-Lago), etc. but you can tell that it’s not a good-faith attempt to invest in American industry because that would start with the two things you mentioned: you’d see the investment in those industries now and a commitment to raising taxes on foreign competition in 2030 or so when people have had time to actually be able to meet demand.
What we’re seeing now makes as much sense as a middle-aged laptop jockey deciding that they want to be in better shape – and then quitting their job to run in the Badwater Ultramarathon the next week.
It looks like the administration is filled with people more interested in making a buck for themselves, rather than do what is best for the country.
Everyone knows that getting another trump may not be possible for at-least another 10 or so years (I don't mean the dems will win, just that republicans may put forth a saner version of trump just to save the party)
I hate to bring up Hitler but that's how he gained much of his power. He was a "useful idiot". The people that helped him were looking out for themselves. They thought they could use Hitler to grab power/wealth.
The stated goal of the administration is to 'reindustrialize' the US by manufacturing more of the goods consumed within the US itself. To get to that goal, tariff barriers are just one part of the story. For tariffs to be effective towards getting to the strategic goal, they need to be coupled with sound industrial policy and a long term execution framework. The three legs of the stool, so to say.
So far, there has been no mention of the other two legs. There is currently no serious bill proposed that aims to apply the required industrial policy and all of these tariffs being imposed under executive orders mean that instability in tariff rates and application is pretty much guaranteed. The very opposite of the stable, long term approach that is needed.
Without the other parts, there is a very high chance that the US will bear the brunt of the short term damage, but with none of the long term benefits.