Tariffs have been the topic du jour for a few days now. I have railed against the idea of blanket tariffs. But there are to Trump's credit there are areas where it is important from an industrial sense. First, Japan, then South Korea, and then China have all used very high tariffs on cars to jump-start their own automotive industries. All of them have lower costs of good and labor and were able to protect their home markets while building the industry.
There is an excellent short discussion of this (it is on TikTok so short) here:
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