Summary
Americans, frustrated with high prices despite a strong economy, voted for change with Donald Trump’s election. Trump promises to reverse Biden-era policies, vowing steep tariffs, tax cuts, and mass deportations.
Economists warn his plans could worsen inflation, increase the federal deficit, and destabilize growth. The Peterson Institute predicts Trump’s tariffs could drive up costs for American consumers, while deportations could shrink GDP by $5.1 trillion.
His proposed tax cuts could add $4.1 trillion to the deficit, while economists question his willingness to address fiscal imbalances through spending cuts.
The point of that Trump tarrif plan was to bolster the current American company manufacturing and did nothing but cost American manufacturing companies and the continued decline of actual American companies.
This cockamamie plan for blanket tariffs isn’t going to produce anything close to washers and like you said chips.
Speaking of computer chips, which Biden/Harris spurred on with the CHIPS Act with a TSMC plant in Arizona, that has problems getting skilled workers, we import a lot of raw materials to produce then as well as higher cost of labor. Add tariffs.
Now think of food, we actually export a ton of it. Now think about tariffs, those going down just like with Trump tariffs when other countries retaliated in the trade war, costing billions.
We import a shit ton of food, both in season and out of season, why do you think we still have tomatoes in winter. Blanket tariffs and good luck bringing that back that never existed.
Same goes for clothing, shoes, we don’t make those we don’t have the factories, labor, or enough raw materials. Tariffs.
I’m not against targeted tariffs, they can produce results, though like above might not be what you actually wanted, but this trumpian fever dream isn’t a smart idea.