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That is not the intended outcome of a trade negotiation. That is economic common sense.
Yes. Not all Chinese goods are cheaper than US made goods. Can you be specific?
And increasingly not as good. That goes for more expensive products, too, I give you Boeing as an example. We're also supposed to be down on BMW, who manufacture BMW cars here in the US and exports them to Europe. We're also supposed to be down on Nippon Steel, who wanted to buy US Steel and manufacture steel here in the US. They believed they could make steel at a profit in US Steel's plants using US union labor, even before tariffs--something that US Steel's present managers are incapable of. Here's another: A major South Korean manufacturer of solar panels has just opened a big plant near me--900 jobs--to make the same solar panels they already make in Korea. They started building it before tariffs and thought they could make money. Now, with the tariffs, they will make even more money, because they can raise their anticipated price.
The outcome of the US imposing tariffs is to cause worldwide tariffs to plummet to at or near zero, and in turn, American tariffs plummet as well to at or near zero.
taxfoundation.org
Did you miss the headline? Topline Preliminary Estimates."GATT successfully reduced average tariffs among member countries from over 20% to around 5% or less."
The weighted average applied tariff rate on all imports will rise to 25.5 percent under the tariffs currently in effect. The average effective tariff rate, reflecting how much tariff revenue the new tariffs will raise after incorporating behavioral responses, such as imports falling in response to higher tariffs, will rise to 11.1 percent under the current tariffs—the highest average rate since 1943. We estimate tariffs will cause imports to fall by about $740 billion in 2025, or 22 percent.
Tracking the Economic Impact of the Trump Tariffs
The tariffs amount to an average tax increase of nearly $1,300 per US household in 2025.
No one expects a rush. We cannot reverse in a year what has accumulated for 50+ years. Captial first, jobs second, GDP growth third, tax revenues will increase as GDP increases.
Without a published manufacturing plan, tariffs are not useful. As for "unfair trade practices" that's what GATT and WTO and NAFTA and the other various trade treaties *AND THEIR ENFORCEMENT MECHANISMS* are about. You keep talking about "end games" when there are NO PUBLISHED plans or white papers about what these goals even are.
The first has nothing to do with trade balance, and the second is not a real thing.
