she studied the impact of the first Trump tariffs, which Biden kept, and found that tariffs actually harmed the US more than they helped, with two-thirds of industry professionals saying "the tariffs were hurtful" to their businesses.
https://x.com/RnaudBertrand/status/1927180335512477699
This is such a "quiet part out loud" moment, and so illustrative of Western policy right now.
This is Elizabeth Economy, former Senior Advisor for China to the Secretary of Commerce in the Biden administration.
She admits that she studied the impact of the first Trump tariffs, which Biden kept, and found that tariffs actually harmed the US more than they helped, with two-thirds of industry professionals saying "the tariffs were hurtful" to their businesses.
Yet, despite having clear evidence that these policies were damaging, the Biden administration did nothing about it. Why? Because, as she openly admits, there was "a fear that the administration would be attacked for being soft on China."
She calls it a "triumph of politics over policy analysis" and a "mistake."
She also says that "it's clear" that the new Trump tariffs "have no actual basis in economics and trade relationships", that they "are political gamesmanship", and that they won't "accomplish the bigger objectives."
That could be the description of so many actions by the West in general right now: taken despite actively harming their own interests, prioritizing political posturing over the welfare of their own citizens.
posted by Satish Sharma at
14:41
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