What trading system will succeed?
Tariffs or working together?
A return to the 1950s?
Does this suit more primitive economies, like Russia?
A likely end result is higher prices on nearly all goods, with cars (one object of the tariffs) costing thousands more. This may cause poverty for the smaller economics as involvement with the global economy may decline
Personally, I believe in free trade and free markets. Protectionism is nothing new. Tariffs are a form of protectionism, and they will likely backfire.
However, I suspect that tariffs have a completely different primary target—namely, inflation. Some may see USD inflation as beneficial for the U.S., as it helps devalue public debt. I have no inside knowledge, so take all of this with a grain (or two) of salt.
Enforcing tariffs is a wasteful effort for the MAGA project. The US is not in a competitive position vis-à-vis China. Cell phones and Tesla models are produced in China. The advantage of the US is its currency; however, Trump's behavior will likely fuel inflation in the US, which in turn will weaken the currency further. He's shooting his own feet. If he didn`t put tariffs, the currency would be stronger and still import with its currency. This is the advantage of the US$. If you wanna spend less and have a balanced budget, lessen the armament, close bases abroad, do not go into a rat race with China, and spend the tax dollars for the betterment of your people.
Cenap,
I mainly agree with you although America-s involvement with the world centres them within the political and economic global structures. Saying that, the US would have to have withdrawn in the near future.
Still, great!
Trump’s Tariffs Are Not About Dolls
"US President Donald Trump and his ultra-wealthy advisers are both trivializing and misrepresenting the real economic hardship that high tariffs will cause. Most Americans are already struggling to meet basic needs, and many importers and retailers will be unable to avoid raising prices if the tariffs remain in place.
In a famous scene from the hit American television series Succession, the savvy patriarch of a family-owned media empire is infuriated to learn that none of his children knows the price of a gallon of milk. He understands that such a disconnect between decision-makers and ordinary people is a recipe for failed leadership. Now, the same tension is playing out not on our screens, but in the White House..."
https://www.project-syndicate.org/commentary/trump-tariffs-inflation-consumer-price-hikes-looming-by-nancy-qian-2025-05
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