The president’s move to protect strategic manufacturing sectors from low-cost competition aims to increase jobs, but consumers might not like the costs.
  • DragonBallZinn [he/him]@hexbear.netEnglish
    44·
    6 months ago

    Thank you Biden for saving us from affordability.

    Paying high prices for everything sure makes me feel fancy, I couldn’t imagine affording stuff and looking like a total peasant!

  • Evilphd666 [he/him, comrade/them]@hexbear.netEnglish
    39·
    6 months ago

    America / west is going to undergo hyperinflation.

    2% normal? How about 10% and wages are going to continue to lag as poindexters and stat books remain suppressed. Employers use the lagging “industry standard” as an excuse to devalue their workers 8%+ a year while giving paltry crumbs claiming a simple Cost of Living raise.

    • Dudewitbow@lemmy.zipEnglish
      13·
      6 months ago

      for the quip about steel aluminum, the Steel tariff won’t change much given that it’s just matching the tariff steel got back in 2018 under Trump, the aluminum one though is going from 10>25% reletive to the one in 2018. Neither caused hyper inflation at the time.

        • Dudewitbow@lemmy.zipEnglish
          4·
          6 months ago

          there were definitely some industries affected by it, but the inflation due to the tariffs were nothing compared to inflation due to Covid, neither being hyper inflation.

          • Tunnelvision [they/them]@hexbear.netEnglish
            17·
            6 months ago

            Literally all of that was before we decided to commit multibillions of dollars to a couple Nazi war efforts. These sanctions may be the same percentage, but they’re being implemented in an entirely different economic landscape.

  • AlexWIWAEnglish
    26·
    6 months ago

    I couldn’t find it in the article, but is it a tariff from all countries? If not then this is a useless gesture and no one will get their jobs back. The new trend is Central America for manufacturing and Eastern Europe for white collar outsourcing.

  • YeetPics@mander.xyzEnglish
    32·
    6 months ago

    Don’t worry, Chinese goods will still be cheap. They just won’t sell as much in the scary west

    • ☆ Yσɠƚԋσʂ ☆OPEnglish
      2·
      6 months ago

      That’s right, the rest of the world will get to enjoy cheap and reliable Chinese goods while people living in the insular western societies will be forced to buy expensive goods from their domestic oligarchs.