US president says he will ask Saudi Arabia and Opec to lower oil prices; reiterates there are "only two genders".

US President Donald Trump told world business leaders on Thursday to manufacture in the United States or face tariffs, in his first major speech to global leaders since returning to the White House this week. … “Come make your product in America and we will give you among the lowest taxes of any nation on earth,” Trump said today, speaking remotely to the World Economic Forum (WEF) in Davos, Switzerland.

“But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff,” he added.

  • kewjo@lemmy.worldEnglish
    12·
    1 day ago

    from your own source

    There is a broad consensus among economists that protectionism has a negative effect on economic growth and economic welfare, while free trade and the reduction of trade barriers has a positive effect on economic growth.

    A 2016 study found that “trade typically favors the poor”, as they spend a greater share of their earnings on goods, as free trade reduces the costs of goods

    So to reduce costs of goods we will make cheap items from China cost more so USA made can compete at a higher price. why doesn’t the math work here? how does this result in a better economy?

    • funkless_eck@sh.itjust.worksEnglish
      2·
      15 hours ago

      such a fan of the quote from source disproving the original post.

      Only superceded by the double “this you?” screenshot

    • Saleh@feddit.orgEnglish
      17·
      1 day ago

      In the right circumstances it is a powerful tool. The question is, whether these circumstances apply in the current US

      Is what i said.

      So to reduce costs of goods we will make cheap items from China cost more so USA made can compete at a higher price. why doesn’t the math work here? how does this result in a better economy?

      Because then manufacturers in the US employ people in the US, who then have more money to consume in the US. That requires the government to also work towards good wages though. Also it allows for industries to grow so they can use economics of scale to drive down their production prices and then their consumer prices.

      Again, for developing industries it can be crucial and is tried and tested. The question is whether that is what the US needs right now.

      • horse_battery_staple@lemmy.worldEnglish
        6·
        16 hours ago

        You don’t understand the current context then.

        Look up Bethlehem Steel. That’s the future of American production if Trump tries to use tarrifs to force local production.

        If you’re actually concerned about US production you’d lobby for subsidized labor to produce goods here. You’d lobby for stronger unions. If your lens is capitalism you need to outcompete your competition. And the current metric for that is labor costs and worker retention.

        Look up FoxConn. See how we’ve outsourced suppressed wages and the model of the company store to China.