Trade Tariffs Will Not Make America Great Again
Trade Tariffs Will Not Make America Great Again by Bill Bonner – International Man
Editor’s Note: Regular readers know we’ve been following President Trump’s trade war closely. For perspective, we turn to Doug Casey’s longtime friend and Bonner & Partners founder Bill Bonner. Below, Bill shows what Trump’s tariffs really mean for the economy…
The big news earlier this month was Trump’s hasty decision to impose tariffs on aluminum and steel.
We were happy to see it.
We were looking for an example—undeniable, indisputable, and in-your-face, jackass—to illustrate how government actually works.
“The Donald” provided it.
It can be hard work digging in the rocky, ungrateful soil of public policy… scraping off the honey-dirt of wishful thinking, delusion, and fraud… to uncover the corruption and stupidity of what lies beneath them.
So we would like to thank Secretary of Commerce Wilbur Ross and the president’s trade advisor, Peter Navarro, for their contributions.
They have put the claptrap right on the surface. Rarely do we get to see public officials who are such undisguised dumbkins with so little guile… and such unvarnished crackpot theories.
They have made it easy for us. Thanks again.
Here in Argentina, trade barriers have been a fact of life for a long time. A couple of years ago, we were unable to get tires for our tractor.
Argentina’s tire-making cronies were protected by tariffs. If you wanted to buy a tire, you had to pay for the locally made, inferior tire.
Unless, of course, they didn’t make the model you needed. Then, you were just out of luck.
Same thing for electronics.
Apparently, ex-president Cristina Fernández de Kirchner had some business buddies down in the south who made electronic components.
So imports of laptops, computers, smartphones, and other paraphernalia were restricted, ostensibly to give the nascent native manufacturers a chance to grow up and compete with Apple, Samsung, and Panasonic.
When you came into the country, you had to show exactly what iPhones, iPads, and portable computers you were carrying. Woe to you if you didn’t still have them when you left.