In the last year, there has seemed, to be, one issue, after another, which brought with them, true controversy! We have witnessed cultural, cultural differences, on topics, including, freedom of the press, health care/ medical insurance, immigration, taxation reform, etc, while, nearly every day, noticed, a continuing discussion, on what has been characterized, as the Russian Investigation. While the majority of these problems, have been mostly, divided, along political party lines, the latest issue, which is trade tariffs, has been amongst the most divisive! Despite the fact that, members of both parties, have either supported, President Trump’s approach, or opposed it, it is important to recognize, there’s no simple answer, and several underlying factors, to consider, both, in terms of being applicable / useful, and sustainable. This article will attempt to briefly examine, review, and discuss, 6 of them.
- Address unfair importing/ dumping: The issue of certain nations, using apparently, unfair methods, to take advantage, and dumping their products, at below – market rates, is not a new one. However, the issue, isn’t, black – and – white, but, rather many facets, and/ or effects, come into play. In today’s global market, many products utilize, goods, components, components, and labour, provided in a variety of parts of the world. In many cases, the so – called American firms, are actually less American, than the foreign ones! There has to be a fine – point, and an approach, which accounts, concept, with activities!
- Trade deficits: Among the reasons, voiced, by President Trump, for implementing tariffs on steel and aluminum, is putting America first, and reducing the trade deficits. However, this ignores certain complexities, including the ramifications. These include the high risk of retaliation by foreign nations, in terms of importing American products, and possible, industries, at – risk, include, bourbon, denim jeans, etc.. Most tariff – fans, even, concur, it is important, for them to be selective, in order to have the most desired results.
- Fortunately, or unfortunately, it’s unrealistic, to confront the reality, today’s world, is just one of globalism, and we can’t, nor should we, strive to become isolationists! Rather than denying reality. Would not it make more sense, to ensure we’re ready, to lead, in this world!
- Often contributes to higher prices: When tariffs are levied on items, such as aluminum, the result, includes increasing costs of manufacturing beers and sodas (in aluminum cans), in addition to affecting production costs for companies, such as Boeing (because airplane exteriors are largely, made of aluminum), and automobiles. Why create raising prices, and risk inflation, hurting consumers and producers, merely to flex America’s so – calledmuscle?
- International goodwill: Australia asserts, President Trump promised, there would be no imposed tariffs, on steel, and, wouldn’t you believe, they would feel, now, they can’t trust this guy, or our state? Do not we want, more goodwill, as opposed to polarizing?
The issues related to tariffs, are complex and challenging! This shouldn’t besomething, done, based on anger and/ or reflex, but, instead, a well – intended, ramifications – considered, concept and approach!