I’ve been reading up on the tariffs that were imposed during the Trump administration and I keep seeing mixed reviews about their effectiveness. On one hand, they seemed to protect certain domestic industries by making imported goods more expensive; on the other hand, there’s a lot of talk about higher prices for consumers and retaliatory measures from trading partners.

The thing is, these tariffs aren’t exactly popular among everyone. If we were to look back 1 year out, 2 years out, and even a few more years down the line, how will we actually know if this was a good move?

Surely there are some metrics or outcomes that can help us evaluate their success or failure. I guess it’s not as simple as checking stock market performance alone, although that’s probably part of it, right?

Is it primarily about looking at changes in trade balances with countries like China, or do we need to consider the broader economic impacts, such as job growth within certain industries? And how much weight should be given to the political ramifications, like strengthened relationships (or tensions) with trading partners?

I’d love to hear your thoughts on what metrics or indicators would help determine whether these tariffs were indeed a beneficial strategy. Thanks in advance for any insights!

  • yarr@feddit.nlOP
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    2 days ago

    Will we listen? No, because experts don’t count for shit in the US anymore.

    You know, in a world where most people don’t listen to experts and follow data, there’s a lot of money to be made in just doing your research. It seems like over time the people and places that learn to use data to guide their hand will outperform the ones of those that do not.

    I guess we will see which one is a winning strategy.

    • EvilBit@lemmy.world
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      2 days ago

      The problem is that the winners don’t share. They exploit the others. That’s exactly what got us here in the first place.