Posted 1/9/2019 05:48 (#7231296 - in reply to #7231265) Subject: RE: Well, given that....
Well, given that there are about 18 teaspoons of sugar in a 20 oz. carbonated beverage and obesity & diabetes are at record levels, sugar tariffs haven't worked that well.
But then again, high-frutose corn surup kinda made sugar tariffs a moot point. Granted, from a corn farmer's perspective, sugar tariffs have be a boon.
But nobody is arguing that tariffs can't "work" or don't effectively redirect the economy. But they have to be use carefully otherwise there are negative consequences. For example, if you apply tariffs to finished steel but not imported products made from steel, the net effect will be to enrich steel producers at the expense of manufacturers who use steel, as is the case with trump's steel tariffs.
If your goal is to increase domestic steel production and domestic "manufacturing", you better be careful how you go about it.
If on the other hand, your goal was to collect campaign contributions from steel producers, tariffs only on steel works really well. Shortly after trump put tariffs on imported steel, Pence came to visit the local Nucor steel mill and then proceeded quite openly to collect hundreds of thousand, if not millions in campaign contributions.
It was one of the most naked displays of quid pro quo we've seen in some time.