The intended goal of import tarrifs is to aid local manufacturing. It’s one of the major tools of mercantilism (1)
It’s a tool that can work. The EU, for examples has had import tarrifs for decades now. Very similar to the ones the US is implementing now: rate depends on country of origin, as well as the type of product.
But it takes time, as reshoring industry means building infrastructur, redoing logistics, educating people. And industry has to trust that the policy won’t be reversed in a couple years time, before wanting to invest in the US.
So whose smart idea was it to think tariffs would not hurt the american people
It’s essentially the reverse of liberalism, something that was/is popular to hate accross the political spectrum. It’s what people were asking for. So as a direct answer to your question: popular demand.
The intended goal of import tarrifs is to aid local manufacturing. It’s one of the major tools of mercantilism (1)
It’s a tool that can work. The EU, for examples has had import tarrifs for decades now. Very similar to the ones the US is implementing now: rate depends on country of origin, as well as the type of product.
But it takes time, as reshoring industry means building infrastructur, redoing logistics, educating people. And industry has to trust that the policy won’t be reversed in a couple years time, before wanting to invest in the US.
It’s essentially the reverse of liberalism, something that was/is popular to hate accross the political spectrum. It’s what people were asking for. So as a direct answer to your question: popular demand.