Yes and no.
In a capitalist society there will always be this presence of an overwhelming need to grow economically. To compete within itself and with foreign nations.
While the notion of imposing tariffs to promote growth for domestic markets rather than foreign, is indeed an attractive thought, I would speculate there is perhaps more harm than good to be done.
Baosteel Group is China’s second-largest steelmaker, and Wuhan Iron and Steel Group is the country’s sixth-largest in terms of 2015 output. (Reuters, 2016)
This being said, the U.S vs China trade war is primarily to do with industries of steel and aluminum.
President Trump of the United States tweeted back in 2018: ""Our steel industry is in bad shape. IF YOU DON'T HAVE STEEL, YOU DON'T HAVE A COUNTRY!"
Surely, placing tariffs may spike production for domestic exportation, but the question remains: Can we afford the cost-benefit with these types of wars?
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