Michael Roberts on Why Tariffs Against China Won’t Save Mordor Industry

Mordor has raised the tariffs on China. These are in the areas of steel and aluminum which are up 25% , semiconductors up 50% and 100% up  on electric vehicles coming from China.

Supposedly this will help Mordor industry. What this doesn’t account for is that all of this is only 7% of US-China trade. Additionally, China will reroute its products through third party countries. Further, it does not address the fact that capitalists in Mordor don’t want to invest in industry. Finally, the tariffs go against the wishes of capitalists within the US who want a more open “free-trade”. All these are indicators of advanced political myopia.

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