Everyone in the universe knows by now that Free Trade is a weapon against the working class, for putting workers into competition with each other in a race to the bottom.
I am sure that Trump's tariffs will be poorly done and in ways that benefit him, his regime, his buddies, and capital over labor, but certainly there is a solid case for tariffs. Plus tariffs were the norm in US history before Clinton - in 1960, imports were the equivalent of 4% of US GDP - that is only 4% of what Americans consumed was produced overseas. Only one other major economy in the world in 1960 had consumption of imports equivalent to 4% of GDP.... wait for it.... The People's Republic of China - which under Mao had an explicit policy of autarky and remaining outside of the world capitalist system. Now, the real problem with tariffs is that the US no longer makes a lot of stuff it consumes, due to all the years of "free trade" - actually investment intended to undermine union rights etc. So the tariffs alone are unlikely to have the effect Trump wants, since the US cannot immediately or quickly replace the imported items. Further, he either wants revenue from tariffs, meaning Americans continue to consume imported items, or he wants US manufacturing to replace those items (import substitution), but then no revenue - he can't have both. So there is a lot to criticize, but tariffs without first manufacuturing, which likely needs to be subsidized is the cart before the horse. Also, if you raise wages FIRST then put up tariffs, people's real wages will hold up. Not the way he is doing it. So I think it is a mistake for critics of Trump to focus on "tariffs bad" when they are not in and of themselves, indeed in the face of China's near monopoly on manufacturing every country needs them today. The criticism should be: Raise wages first, or people won't be able to afford the higher priced but everyday products imported Subsidize manufacturing, or we won't be able to replace the imports, don't put the cart before the horse And, being Marxists: public ownership of the new manufacturing (a government solar panel company etc.) and workers' democratic control, at least starting with the companies that are subsidized or public. Provide a real alternative to Trump's approach. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#34844): https://groups.io/g/marxmail/message/34844 Mute This Topic: https://groups.io/mt/110809626/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
