Realpolitick, the political economy, remains important. The sausage factory. Tariffs are the hush money to secure the ongoing support for Bidenomics.
It's super important that every player has its own domestic production. Even if USA's (or EU's) total global market share < 5%, it's worthwhile. De-risk supply chains, national security, upkeep of domestic competency, etc.
Quid pro quo. China could liberalize their economy too. Allow foreign direct investment. Drop their own tarriffs. But they're not (yet?) willing to forfeit autonomy in exchange for "free trade".
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I get what you're saying. I too agree that fighting climate crisis is our top priority. These slap fights are infuriating. But, for better or worse, you and I aren't in charge.
Realpolitick, the political economy, remains important. The sausage factory. Tariffs are the hush money to secure the ongoing support for Bidenomics.
It's super important that every player has its own domestic production. Even if USA's (or EU's) total global market share < 5%, it's worthwhile. De-risk supply chains, national security, upkeep of domestic competency, etc.
Quid pro quo. China could liberalize their economy too. Allow foreign direct investment. Drop their own tarriffs. But they're not (yet?) willing to forfeit autonomy in exchange for "free trade".
--
I get what you're saying. I too agree that fighting climate crisis is our top priority. These slap fights are infuriating. But, for better or worse, you and I aren't in charge.