A Reagan comment on tariffs (1 Viewer)

[EnchantedMuggle]

Interesting.

I mean this was a zillion years ago but I guess it's coming up on feeds now in light of the current tariff madness.

 

[Jessie C]

What he said is the absolute truth....was back then and still is.

It wasn't a zillion years ago- I, and many many Americans voted for him. I was 24 in 1980 and considered myself to be a republican based on his platform. He represented a republican party that no longer exists, and many of us on this board know this.

 

[pedex]

That tariff madness has been going on for many decades.

 

[ttwtt78640]

Interesting.

I mean this was a zillion years ago but I guess it's coming up on feeds now in light of the current tariff madness.

That theory seems to make sense, but ignores the per capita income and cost of living disparities which exist between nations. When the USA is compared to Mexico or China (on that basis) it becomes obvious that manufacturing (of goods sold in the USA) would be more profitable if (when?) done outside the USA.

GDP per Capita - Worldometer

GDP per capita by country. List by GDP at PPP (Purchasing Power Parity) and by Nominal GDP. Ratio to World's average GDP per capita at PPP

www.worldometers.info

 

[OrphanSlug]

It matters less to me what Reagan said on tariffs, what he was talking about back then does not apply as much today. Most of the jobs and outputs, products and services, he is referring to have been almost entirely offshored anyway.

Our goals with tariffs should be the protection of what we already produce, and it should be strategic based on what markets and business to business buying we want to keep internal to the nation.

What tariffs rarely do is convince offshore production to suddenly move onshore. Some wins here and there but otherwise, just pass the new costs to the consumer hoping it will be paid.