We can do that without import taxes. I deride Biden's CHIPs act as a giveaway to billionaires but it is certainly going to cause chip manufacturers to move their operations to the US instead of China. While I'm not excited about more low wage jobs, I'm less excited about import taxes that codify domestic monopolies and often cost jobs.

[–] intensely_human@lemm.ee 1 points 6 hours ago (1 children)

How do you figure it would cost jobs? Just less economic activity over all? Importing business just can’t do business any more and goes under? That will definitely happen in some places, if those companies are just barely hanging on.

[–] Maggoty@lemmy.world 1 points 6 hours ago

Monopolies don't need as much manpower as companies in competition. There's less marketing, less customer service, less quality control, and ultimately less production staff. They don't care if the item gets back ordered, if you wait on hold for hours, or you think there's a better product overseas. They don't have to care.