Game over --- the west has clearly lost out on any sort of manufacturing.
Protectionist measures (aka tariffs) don't fix the problem, they just help perpetuate it --- for a while.
In the not too distant future, the rest of the world will be driving small, efficient, cheap EVs. The USA plans to cling to expensive gas guzzlers that no one else will buy.
The question is --- will the USA plan solve the problem or make it even worse in the long run?
Clearly, US consumers will suffer as a result of paying higher costs for transportation. But so will US auto manufacturers and oil producers as a result of market contraction.
Protectionist measures (aka tariffs) don't fix the problem, they just help perpetuate it --- for a while.
In the not too distant future, the rest of the world will be driving small, efficient, cheap EVs. The USA plans to cling to expensive gas guzzlers that no one else will buy.
The question is --- will the USA plan solve the problem or make it even worse in the long run?
Clearly, US consumers will suffer as a result of paying higher costs for transportation. But so will US auto manufacturers and oil producers as a result of market contraction.