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?
Sure. In the short term it will raise prices and hurt American consumers. In the long term? lol
Basically your worst fear here is that the companies we're trying to force back will play hardball, but Trump isn't someone you can mess with easily since he's a big time business man and understands the game, so I'm not worried. It might hurt your wallet at first but not only will your wages go up as jobs come back to us, but prices will be forced down as competition rises.