Mark Blyth

Now, there's a better argument for it which goes like this. And again, it's the productivity thing, right? If I put up tariffs, what I'm doing is two things. I'm advantaging American goods over foreign goods. So Walmart can stock American goods. Well, the problem is we don't make enough of the stuff that we actually consume. That would be an incentive for American firms to do a lot more, right?

Whether they would take up the incentive in any reasonable amount of time or whether they would just basically not bother. We don't know, right? So there are arguments around tariffs. It's called the optimal tariff about how much you can raise relative to costs, all this sort of stuff. But at the end of the day, generally speaking, most of us are a bit skeptical of the work in these things.

Whether they would take up the incentive in any reasonable amount of time or whether they would just basically not bother. We don't know, right? So there are arguments around tariffs. It's called the optimal tariff about how much you can raise relative to costs, all this sort of stuff. But at the end of the day, generally speaking, most of us are a bit skeptical of the work in these things.

Whether they would take up the incentive in any reasonable amount of time or whether they would just basically not bother. We don't know, right? So there are arguments around tariffs. It's called the optimal tariff about how much you can raise relative to costs, all this sort of stuff. But at the end of the day, generally speaking, most of us are a bit skeptical of the work in these things.

You get shortages, and the price goes up, all the rest of it. You're basically making foreign prices more expensive than domestic prices on the assumption that domestic production will take up that slack. It's not clear to me we're going to do this. Give you one example of Yeah. Remember during the pandemic, we had all this stuff about PPE, personal protective equipment? Yeah, yeah. Right.

You get shortages, and the price goes up, all the rest of it. You're basically making foreign prices more expensive than domestic prices on the assumption that domestic production will take up that slack. It's not clear to me we're going to do this. Give you one example of Yeah. Remember during the pandemic, we had all this stuff about PPE, personal protective equipment? Yeah, yeah. Right.

You get shortages, and the price goes up, all the rest of it. You're basically making foreign prices more expensive than domestic prices on the assumption that domestic production will take up that slack. It's not clear to me we're going to do this. Give you one example of Yeah. Remember during the pandemic, we had all this stuff about PPE, personal protective equipment? Yeah, yeah. Right.

Oh my God, it's all made in China. It's terrible, right? From permitting and planning to opening it up, how long do you think it would take to open up a factory in the United States that makes cotton buds? How long would it take? Five years. Five years? Five years. And that's just for goddamn cotton buds.

Oh my God, it's all made in China. It's terrible, right? From permitting and planning to opening it up, how long do you think it would take to open up a factory in the United States that makes cotton buds? How long would it take? Five years. Five years? Five years. And that's just for goddamn cotton buds.

Oh my God, it's all made in China. It's terrible, right? From permitting and planning to opening it up, how long do you think it would take to open up a factory in the United States that makes cotton buds? How long would it take? Five years. Five years? Five years. And that's just for goddamn cotton buds.

You know, the things you stick in your ear. Oh, Q-tip. Q-tips, right.

You know, the things you stick in your ear. Oh, Q-tip. Q-tips, right.

You know, the things you stick in your ear. Oh, Q-tip. Q-tips, right.

Yep. Seriously. Now, in some places, it may take about three years. TechSoup probably has easier permitting. But the point is, if you're not making this stuff now, you don't just turn on a tap overnight and make it.

Yep. Seriously. Now, in some places, it may take about three years. TechSoup probably has easier permitting. But the point is, if you're not making this stuff now, you don't just turn on a tap overnight and make it.

Yep. Seriously. Now, in some places, it may take about three years. TechSoup probably has easier permitting. But the point is, if you're not making this stuff now, you don't just turn on a tap overnight and make it.

It's wishful thinking. If we change this price, magically everything will appear. No, I don't think so. I think you just end up with a bunch of shortages and inflation.

It's wishful thinking. If we change this price, magically everything will appear. No, I don't think so. I think you just end up with a bunch of shortages and inflation.

It's wishful thinking. If we change this price, magically everything will appear. No, I don't think so. I think you just end up with a bunch of shortages and inflation.

And that's what Biden is trying to do with the Inflation Reduction Act. And if you think about it, Biden didn't take down any of Trump's original tariffs. Trump mentioned that in the debate. And why not? Well, because ultimately, if you're going to rebuild an industry that China's got leaps and bounds ahead in, you have to have tariffs. Otherwise, yours will never be competitive.