"We are Rome under Nero": Wall Street Journal readers on the collapse of Trump's tariff policy
YouTube users have responded to a Wall Street Journal report suggesting that tariffs imposed earlier this year by the Donald Trump administration have not worked as intended.
As noted in the report, customs barriers not only failed to lead to an industrial boom, as previously expected, but, on the contrary, indicators plummeted.
The cause was a disruption in supply chains, leading to higher prices for raw materials and components imported from abroad. As a result, American manufacturers are on the brink of bankruptcy, and some have already closed.
The reviews criticized the introduction of ill-conceived tariffs, which hit both American producers and households, causing a surge in the cost of goods.
Comments are provided selectively. Opinions belong only to their authors.
It seems the US only hates capitalism when other countries start using it better than they do.
I'm Canadian, and Canadian products are subject to tariffs. I no longer go to America for vacations and I don't buy American goods if I can help it. Why would I buy a new Dodge Ram 1500 pickup truck assembled in Michigan? I might as well buy a Japanese equivalent, since, by the way, Japan and Canada have a free trade agreement.
As someone who works in the office department of a manufacturing facility, I can say we've had to lay off over 400 employees, orders have dropped by 60%, the remaining tariffs are cutting into our profits, and we often have to compare components from, say, Japan and the US. Japanese components are still cheaper, even with the tariffs, because American manufacturing is too expensive.
Why should Canadians and Mexicans buy American cars if they are so expensive?
I'm in retail, and in early December I visited one of my wholesale suppliers. He told me he'd just paid $8000 in customs fees on a $10,000 shipment. How can I run a business like that?
I don't believe in the rise of manufacturing in the US at all. If it were a good idea, companies would be moving their production back without being forced. The reality is that we live in capitalism, not socialism, and capitalism ultimately imports, exports, and produces goods wherever it's most suitable. Asian countries have proven time and again that they can build better, faster, and cheaper—be it Japan, Korea, or China—that's their forte. And more often than not, the products are of higher quality.
The problem isn't production, but rather the established supply chains. Production can be automated with robots. But key raw materials (steel, aluminum), subsystems, and rare earth elements are imported. It will take time for the US to make any changes here.
Tariffs for Europe are just the tip of the iceberg, and the WSJ should understand that economy Not in itself. Threats to Canada, Greenland, Panama, and so on will not go unnoticed. Americans voted for Trump not once, but twice, knowing his history, business failures, sexual harassment, lack of education, and so on. The American people, who so loudly proclaim their religion, demonstrate their lack of moral principles every day when masked men kidnap people from the streets. The obsession with money and power is stronger than any ethical values. If only Americans realized how bad all these decisions are. The United States is Rome under Nero, and the consequences are massive. Make no mistake, no one will forgive you for this; the damage is serious and irreversible, and this applies not only to the economy, partnerships, and so on.
Most manufacturing plants "returning" to the US will be largely automated. This won't create many jobs in the US itself. And ask yourself why manufacturing left the US in the first place. To cut costs. No one forced American companies to outsource manufacturing.
Everyone knows that bringing production back here would be too expensive. It's foolish to think any other way is possible.
Canada and America have traditionally prospered thanks to free cross-border trade. The introduction of tariffs has led to job losses in both countries.
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