Oh some things I absolutely want to bring back home. Pick and choose. I wouldn't have started a trade war with the entire world. He bluffed and now he's getting called.
I read this on reddit
The biggest benefactors of tariffs, in theory, are domestic laborers and manufacturers who otherwise need to compete with overseas firms. By putting an additional cost on what's coming into the country, it incentivizes local production to build out and create goods at home. This is why the labor unions aren't too upset about this; they see this as a way to protect union jobs and raise prices that will, again in theory, go to them.
This is why Biden placed heavy tariffs on various electric vehicle parts and manufacturing and on things like batteries and solar panels. In part, he was trying to spur interest in domestic manufacturers and push consumer demand away from imports. It's why you can't get the dirt cheap Chinese EVs in the United States right now, because the 100% tariffs put in place make them no more affordable than a basic Tesla or Ford.
There is little thought put into the Trump tariffs - they're all-encompassing and are founded on a clear misunderstanding of how trade deficits work. However, the theoretical economic benefit, on paper, is very clear-cut and is the reason Trump's putting them in place: he thinks the United States is getting "ripped off" by overseas goods and labor, and wants to incentivize the investment at home, instead.
