The Atlantic's Jonathan Chait claimed in an article Friday that President Donald Trump's plan to encourage American manufacturing by imposing huge import tariffs was doomed from the moment he offered to negotiate with targeted countries.
"The key to making it work was to convince businesses that the new arrangement is durable," Chait wrote. "Nobody is going to invest in building new factories in the United States to create goods that until last week could be imported more cheaply unless they’re certain that the tariffs making the domestic version more competitive will stay in place."
The problem, according to Chait was, "Once you’ve said you might negotiate the tariffs, nobody is going to believe you when you change your mind and say you’ll never negotiate." And, indeed, just over two hours later, Chait wrote that Trump posted that he had just negotiated a possible agreement with Vietnam.
No comments :
Post a Comment
ANONYMOUS COMMENTS WILL NOT BE POSTED!
please use either your real name or a pseudonym.