Originally Posted by
Turbosina
The only reason the most dire predictions about tariffs didn't come true, is because the actual tariffs implemented were drastically less than those announced on "Liberation Day" (and now we're at 15 percent). If the tariffs initially announced at 50 -- 100 pct had been implemented as promised, we would be looking at a very different economy right now. But it's impossible to prove a negative...
In a Foreign Affairs essay where the author discusses effective and ineffective use of economic chokepoints he briefly discusses tariffs. (By and large ineffective)
In it he uses our largest trading partner, Canada, to illustrate his point. Due to the harm that high tariffs caused for US industry, by end of December 2025 the Canadian tariff rate was 3.5%. Essentially unchanged from December 2024.