I have seen a lot of know-it-all democrat voters posting in the last few days about how Trump's economic strategy is bound to fail and those who voted for him for economic reasons are fools. Obviously I am extremely sceptical of these people, as economic literacy has never been a strong point of progressives (not to mention how they are all suddenly experts, like how they were for virus propagation, climate change, etc.).
Nonetheless, I myself am no economist. Can somebody with a better understanding explain the strategy to me, and also any potential ways in which it COULD backfire in the way progressives are suggesting?
the biggest argument against the tariffs is what could happen if America's local economy does not rise to the challenge. if the tariffs are implemented, but the factories remain closed and American manufacturing and industry remains stagnant, they will be a disaster for the country.
I guess that's my main concern. America is quite clearly capable of being self-sufficient, being a continent-sized country, but the transition from a globalist economic stance to a more protectionist stance is going to be painful if done too quickly and without a lot of thought. Just thinking about how enmeshed the American manufacturing sector is with China makes me cringe. It'll be like untangling Christmas lights...