Quote:
Originally Posted by pessoa00
Those jobs weren’t lost, they were transferred to other industries, namely services and tech, where US has a tremendous trade surplus with the rest of the world. In fact, US has currently among the lowest unemployment rate of the past 50 years.
It is intellectually deceiving to only include goods on the trade deficit to justify declaring a trade war with the rest of the world (well, except for Russia…)
It is also naive to think those manufacturing “jobs” will be transferred from China, Vietnam, India, etc., back to the US, especially when the few that could maybe take those jobs (illegal imigrants) are being expelled from US.
On the topic of watches, what to you think Swiss companies will do? Open factories in US for made in US made watches? Who here would buy a US made Rolex? Just the concept IMO is ridiculous. Rolex just did a price increase of about 10% on gold watches and 18% on Daytona gold watches. They could easily get away with an increase of 15% on steel watches for 2025 and adjust the remaining with another increase next year.
To even out things IMO the rest of the world should impose tariffs on US services by the same amount US is imposing on goods. That would be fair trade.
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So your plan President Pessoa00 is to ignore the fact that we no longer make anything and if we get into war or China “repatriates” Taiwan, (when we get cut off by China) is to tell your citizens, “Well, I thought we were good only having a services economy. I knew the United States no longer made anything (e.g. pharmaceuticals, comms/IT hardware, steel, etc.) here in the USA, but I ignored all those strategic risks and “hoped” things would get better. I did some polling and found out that ‘doing something’ about these risks would involve some economic pain, so I just kicked the can down the road, knowing insolvency would happen on the next guy’s term, not mine. But heh, at least Tesla stock dropped again today, right?”
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