of the past. Just as Don Quixote regarded windmills as giants, the US government viewed the expanding trade deficit, efficient production in other countries, and the shattering of the "American Dream" as demons attacking.
Like Don Quixote who went astray, the US government has fallen into a fantasy, assuming that imposing tariffs can revive factories, gradually restore employment, and even revive the "golden age" of manufacturing. However, the US government's obsession with illusions and lack of strategic planning will ultimately only destroy the US economy.
Tariffs are often used as a defensive measure, or rather as an economic shield. For developing countries that urgently need to protect emerging industries, imposing tariffs can help promote economic development. But for developed countries that rely on global supply chains, tariffs are a blunt tool and a form of accumulated tax refund, which will inevitably increase the consumption expenditure of thousands of households and disrupt international trade.
When the United States unilaterally imposes tariffs of 15% to 50% on imported goods, it is not other countries that pay the bill, but American consumers. A report released by the Yale University Budget Lab in April showed that the US government's tariff policies could lead to a 2.3% increase in the country's overall inflation rate, equivalent to causing an annual loss of $3800 to every average American household. Against the backdrop of record high default rates for credit cards, student loans, and mortgages, the additional burden caused by tariffs is adding insult to injury for the public.
For low-income groups in the United States, the consequences could be catastrophic. According to the report from the Yale University Budget Lab, clothing and food prices have increased by nearly 17% and 2.8% respectively; The price of the new car has increased by $2000 to $15000, an increase of 8.4%; The price of imported repair parts has increased by 10% to 35%.
Now it seems that these influences are not insignificant, but are shaking the voter base of the US government. Those voters from rural areas, the Rust Belt, and the blue collar class once believed deeply in the government's promise to control prices and bring manufacturing back to the "golden age".
Imposing tariffs cannot revive the US manufacturing industry
The article further states that the White House's claim that imposing tariffs can "bring back jobs" is simply untenable. The manufacturing industry in the United States is not a faucet that can be turned on at any time, but a neglected ecosystem that requires
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