Tariffs and Trade Wars

[tarheel0910]

I didn't realize that. When the tobacco market in the US went to hades we were told that 99% of what the farm was producing was going to Central/South America. I had always assumed that was still the case. Interesting.

Not sure how recent this is, but it looks like the majority of tobacco is sent to Germany and the majority of cigarettes to Japan.

http://www.who.int/tobacco/en/atlas19.pdf

 

[prlyles]

Trade wars are never won by either side. Of course our president says they are "Good and easy to win". I don't know if that is his style or his personality talking....

 

[uncboy10]

I am fundamentally opposed to tariffs for economic reasons, but the issue is that China, The EU, Canada, etc have been engaging in unfair trade practices for years. You can't have fair trade when one side doesn't play fairly.

This is exactly why market fundamentalism never works. According to basic game theory, economic agents almost never have any incentive to play fair. Unless there are laws/regulations to make them

 

[UNC71-00]

This is exactly why market fundamentalism never works. According to basic game theory, economic agents almost never have any incentive to play fair. Unless there are laws/regulations to make them

I agree, which is why the biggest kid on the block needs to give everyone else an incentive.

 

[Archer2]

I don't like tariffs either. But that means no tariffs period, by any countries. Let's just propose a zero tariff policy to all our trading partners. You put no tariffs on our goods and vice versa.

 

[prlyles]

Tariffs are a nessary evil from time to time. They need to be thought out and they need to serve a specific purpose. Nothing shows this to be the case with Trump or his staff.