LillyPip comments on OP is shocked that an import tax is not paid by the exporter

For fairness here, tarrifs can be beneficial and useful when specifically targeted at industries which you can compete globally in with commensurate subsidies. In other words, universal tarrifs is the same as shooting your own nuts off, but targeted tarrifs can be helpful in growing specific industries you can grow.

All tarrifs are paid by the population of the country doing the tarrifing, but when it's well thought out and specifically targeted it can be a good thing.

Lastly, for clarity, fuck trump, what he's doing is incredibly stupid and will only hurt US citizens.

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[–] BenVimes@lemmy.ca 19 points 9 months ago (2 children)

Also: I think it would make more sense for those targeted tariffs to be one of the last steps in creating a home-grown industry, and not one of the first. Rather than slapping down some tariffs and hoping that your captains of industry will build the infrastructure to meet the demand, you'd instead want to subsidize the industry first, and only put the tariffs in place to curb imports once domestic production has ramped up. By applying the tariffs first, you're just taxing your population with no incentive for change, because the demand doesn't disappear while waiting for the industry to be built, and the people who might do the building can just pass the import costs on to the consumer anyhow.

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[–] Red_October@piefed.world 7 points 9 months ago

Don't forget the damage done by being so wildly inconsistent in maintaining the policy. MAYBE someone would invest in building production to take advantage of the tariff protections. However when you cancel the tariffs a month later, then reinstate them, then lower them, raise them, cancel them, and renew them again like a child mashing buttons, nobody will EVER invest in national production because they can't expect those tariffs to still be there when the factories are ready. Trump would have to actively try to do more economic damage than he has already.

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[–] Barbarian@sh.itjust.works 5 points 9 months ago

Now you're thinking with tarrifs!

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[–] echodot@feddit.uk 21 points 9 months ago (1 child)

It's also incredibly stupid that they tariff components.

If a US company wants to build a dishwasher then they're probably going to have to buy some parts from China, because the US lacks vertical integration, except they're not going to because those parts are also tariffed. So you might as well just make the dishwasher in China and pay a single tariff on the whole thing.

Is it possible that the Trump administration is just made up of idiots?

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[–] flowers_galore2@lemmynsfw.com 2 points 9 months ago

Possible? Donald Jesus Trump or his fapostles idiots? How could it be???

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[–] KurtVonnegut@mander.xyz 0 points 9 months ago

Aren't taxes supposed to be paid according to the "tax incidence", which depends on the elasticity of supply and demand? (Basically, how easy it is for respectively the seller and the buyer to find alternatives?) I guess that since a lot of products dont have domestic alternatives, US buyers have few alternatives, whereas foreign sellers have many (they dont necessarily have to sell to the US). As a result, yes, the US buyer will be paying most of the tariffs?

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[–] JoMiran@lemmy.ml 16 points 9 months ago

If they fucked me in the I'd at least have a good time. They fuck me in the wallet, which hurts a lot and not in a sexy way.

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[–] IAmNorRealTakeYourMeds@lemmy.world 11 points 9 months ago (2 children)

wish they did 😔