Friday, June 20, 2025

see, tariffs are hard and it's easy to be stupid.

if you put tariffs on countries importing steel, they will put tariffs on our exports. exports will decline. meanwhile, if local steel was preferable, you wouldn't need tariffs in the first place. the result is more likely to be recessionary than protectionist. you end up with less exports and less local consumption.

oops.

picking a fight with somebody else to mitigate the issue with the americans is not wise. our issue is with the americans. keep the measures directed.

the reality is that steel is filthy. let the americans do steel if they want. let's put export taxes on them and build houses instead. if we just do keynesian stimulus, we don't need extra tariffs on other countries.