{"id":14773,"date":"2024-09-19T16:44:11","date_gmt":"2024-09-19T16:44:11","guid":{"rendered":"https:\/\/lonecandle.com\/?p=14773"},"modified":"2024-09-19T16:44:12","modified_gmt":"2024-09-19T16:44:12","slug":"j-d-vances-revisionist-history","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=14773","title":{"rendered":"J.D. Vance’s Revisionist History"},"content":{"rendered":"\n

“”Six years after then-President Donald Trump signed the first tariffs and began a costly U.S.-China trade war, it’s become clear that these tariffs are an abject policy and economic failure,” wrote<\/a> Jay Derr of the Reason Foundation (the organization that publishes this website) earlier this year. “These tariffs have negatively impacted trade between the U.S. and China, leading importers to shift toward Mexico’s west coast instead of shipping directly to the United States. As a result, trade between Mexico and China has grown by 60% in one year.”<\/p>\n\n\n\n

They also, on net, failed to protect American jobs: The U.S.-China Business Council found in 2021, that some 245,000 American jobs were lost as a result of the tariffs. And despite the Trump team’s hopes, U.S. Steel may<\/a> in fact get sold<\/a> to Japan’s Nippon Steel Corporation after all (though pulling the deal off is proving complicated<\/a>).<\/p>\n\n\n\n

“The entire\u2028purpose of a tariff is to shift consumer behavior away from politically disfavored goods\u2014such as imports from China\u2014toward domestic-made items that would otherwise lose out in a free market of price competition,” wrote<\/a> Reason<\/em>‘s Eric Boehm last month. If reimposed and broadened, “Trump’s proposed 10 percent tariff would be equivalent to a $300 billion tax increase,” reports Boehm. “Assuming other countries would also raise trade barriers in retaliation, the final toll would be more than 825,000 jobs lost, according to Tax Foundation Senior Economist Erica York.” For the typical American household, Trump’s round two would impose costs of an additional $1,500 annually.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“If we get more tariffs, it’s American consumers who will have to bear the consequences\u2014after suffering through several years of high inflation that have already taken a big chunk out of their budgets.”<\/p>\n\n\n\n

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J.D. Vance’s Revisionist History<\/a><\/blockquote>