Shawn Fain is Tragically Mistaken: Tariffs Are Not Good for the Working Class
Image Source: an officer or employee of the United States Government – Public Domain
Trump’s sweeping tariffs have been opposed by much of the ruling class because they correctly recognize them as a recipe for recession and economic chaos in their system.
As a result of opposition from the capitalist class, featuring a deep crisis in the stock market and ominous signs from the U.S. Treasury market, Trump has twice been forced to substantially walk back his tariffs, such as on Canada, Mexico, and the European Union.
The ruling class and their mouthpieces like the Wall Street Journal did not revolt because they’re opposed to tariffs in general. In fact, they are favorable toward increasing tariffs on China, which are now at an average of 124 percent, even if they may be concerned about Trump’s dramatic escalation. And they’re certainly not opposing Trump’s tariffs on behalf of working people.
At the same time, tariffs are not a solution for the international working class any more than free trade and neoliberal globalization have been. Depending on the period and the crisis of capitalism, free trade or........
© CounterPunch
