If you're a Democrat it might have been better to have Trump in 2020 than 2024. The old Trump presidency would have continued with its half-hearted ways being led around by Ivanka and Jared. But, now, instead of a weak Flavius Honorius, they've got Lucius Cornelius Sulla.
Some necessities may indeed increase in cost. But many of these "goods" whose price will increase will not be sold. And that is something that could benefit America. Americans buy too much stuff, a lot of junk and a lot of gizmos that aren't needed. One of the things tariffs can do is stop people from spending and have them start saving instead. Americans need to do that. So what if they don't buy a new phone every year or TV every couple of years or other gadgets they don't need. That will put few Americans out of work. Whose going to be impacted? Maybe Amazon and other online retailers. The days when these sort of things would put Americans selling things in shops and malls out of business and out of work are behind us. It'll be the foreign manufacturers who suffer.
I wonder how many hotshots in Thailand, even on this forum, work for companies here that would be devastated by tariffs. A little bit of the guffawing might be those guys getting ready for the unemployment line.
If the US only applied reciprocal tariffs and the same limitations on import control that Thailand does, then Thailand would collapse. Thailand has a $10 billion trade surplus with the US, while it has a trade deficit with China of about the same amount. If that $10 gets dented, then Thailand is in trouble. There is nothing that Thailand makes that the US absolutely must have.
Whatever the faults of Joe Biden and/or Donald Trump, I would much rather live in a world that their America dominated, rather than one in which Xi, Putin, Khamenei, Kim Jong Un, and even the dictator in waiting, Modi, exercised dominant power.
I agree that the attack on TSMC is stupid beyond belief. But I'm not so sure that the other end of the argument, backing away from Taiwan, is such a bad idea. The opposition KMT is in a coalition that controls the legislature and most local governments. Only the executive is in the hands of the DPP. And the KMT wants a Hong Kong style solution (one country; two systems) to the current conflict with the PRC. Going down the same path as Hong Kong would likely soon result in complete control by the PRC. In those circumstances who would want to pour investment, American weapons, and other support into a KMT-ruled Taiwan if it runs the risk of being turned over to the PRC in a few years?
It could be good for us. China does this sort of thing all the time. They use tariffs and import inspection slow-downs to get their way with countries such as Australia, South Korea, and Japan. And I remember the government apologizing for the nation a few years ago when a Thai immigration officer slapped a Chinese tourist. China takes care of its people and its interests. Why shouldn't the US do the same?
Possibly. No, maybe even likely. But I still like to see it, because it ought to scare the bejabbers out of the Thais who have been quietly undermining US interests through things such as openly inviting Chinese companies to set up in Thailand to evade US sanctions and restrictions.