Make your products in America or pay tariffs, Trump tells World Economic Forum
Make your products in America or pay tariffs, Trump tells World Economic Forum
Make your products in America or pay tariffs, Trump tells World Economic Forum
US President Donald Trump told world business leaders on Thursday to manufacture in the United States or face tariffs, in his first major speech to global leaders since returning to the White House this week. ... “Come make your product in America and we will give you among the lowest taxes of any nation on earth,” Trump said today, speaking remotely to the World Economic Forum (WEF) in Davos, Switzerland.
“But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff,” he added.
So he really has no idea how tariffs work
Yup
Either he's an idiot or he thinks everyone listening to him are idiots and I can't decide what's worse.
Hey, there is another option. Corporations could illegally decide to absorb the cost of the labour and tank their share prices.
I'm not quite sure which option would implode the economy faster, but it would be a neat experiment.
Which in turn stimulates local production, which in turn leads to economic growth...
Seriously people, Protectionism is a tried and tested method. In the right circumstances it is a powerful tool. The question is, whether these circumstances apply in the current US, but look at all industrialized nations. They used protectionism to grow their industries and now they oppose other countries protectionism to keep them small.
https://en.wikipedia.org/wiki/Protectionism
I mean, he just threatened them on Russia despite our trade being nearly nonexistent with Russia for the past three years. So yeah.