First things first, if things start going sideways, the admin will be forced to pump brakes on tariffs, or make loopholes. And if the tariffs do go through at their fullest extent, sellers will still find ways around the tariffs to minimize their impacts. Already the Trump admin imposed tariffs on China in 2018, but Chinese exporters just found a whole bunch of loopholes around these tariffs (ex - splitting packages to less than $800 to avoid customs checking).
The impact right away won’t be as big or catastrophic as one might think. However, it will certainly accelerate the downfall of American industry over time, as American capital is in a poor position to replace external manufacturing. This is because America doesn’t have enough skilled workers (and is being racist to the ones it imports) or government policy to sustain a large manufacturing base. Basically, the productive forces of the imperial heartland will decline, and this will be most notable in agriculture (and industry where prices are already high from bird flu, gas price increases, ecological devastation and so many more factors). Imagine what will happen if the Trump admin successfully turned down the flow of industrial parts for food production from China.
First things first, if things start going sideways, the admin will be forced to pump brakes on tariffs, or make loopholes. And if the tariffs do go through at their fullest extent, sellers will still find ways around the tariffs to minimize their impacts. Already the Trump admin imposed tariffs on China in 2018, but Chinese exporters just found a whole bunch of loopholes around these tariffs (ex - splitting packages to less than $800 to avoid customs checking).
The impact right away won’t be as big or catastrophic as one might think. However, it will certainly accelerate the downfall of American industry over time, as American capital is in a poor position to replace external manufacturing. This is because America doesn’t have enough skilled workers (and is being racist to the ones it imports) or government policy to sustain a large manufacturing base. Basically, the productive forces of the imperial heartland will decline, and this will be most notable in agriculture (and industry where prices are already high from bird flu, gas price increases, ecological devastation and so many more factors). Imagine what will happen if the Trump admin successfully turned down the flow of industrial parts for food production from China.