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 Donald Trump is planning more trade barriers if he becomes president – but they didn’t work last time
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Donald Trump plans to impose tariffs up to 20% on imports and 200% on Mexican cars if re-elected; he previously favored tariffs during his presidency (2017-2021) to address trade imbalances and boost manufacturing; research indicates tariffs increased reliance on foreign suppliers and raised consumer costs; retaliatory tariffs were imposed by China, EU, Canada, and others; reshoring manufacturing is complicated by the loss of US manufacturing capability; automation may limit job creation in reshored industries; tariffs are still supported by some politicians, but former VP Mike Pence opposes them; Trump's tariff strategy may repeat past failures.

#DonaldTrump #Tariffs #TradePolicy #Manufacturing #Economy #UsPolitics #2024Election #China #Eu #Reshoring

https://theconversation.com/donald-trump-is-planning-more-trade-barriers-if-he-becomes-president-but-they-didnt-work-last-time-240964