alt Hacker NewsThis ignores two facts.
One, US has been the largest buyer of imported goods. As much as people think turning away is difficult and needs planning.
Two, turning away requires time and planning. Supply chain isn't built in one day. People need time for that.
In the short term - like next 3-4 years - it is going to look like countries caved. But in the long term Liberation Day will be remembered as one of the days which put a nail into the American exceptionalism.
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i think canada has found that its been less difficult than we thought it would be
ultimately the US is buying stuff, but its the stuff thats actually valuable and not the USD you get from it. its even easier to move when you cant even buy oil from the gulf anymore, whether in USD or otherwise.
the supply chain problem arrived in trump 1's covid disaster, and hasnt exactly been solved for getting stuff to the US again
Long term it is a very tough position for the US. They need to run a trade deficit to keep the power of the US dollar, if that goes so does a lot of their world power.
More broadly however, the question that I think everyone should ponder on is, "If the US falls as the world super power, do you think the alternative will be better?"
A huge part of the US's spending is on the military and that is used to stabilize global trade, that is so that the USD is still THE major currency. But recent moves looks like they are trying to keep that while also kicking out the struts that hold up the entire system. It is very illogical, maybe there is a bigger plan but somehow I don't think there is.