Comment by freedomben
16 days ago
Indeed, and we never seem to learn. Lumber prices in the US during Covid were eye-watering and wreaked havoc through the whole economy that is still being felt today, and it was almost entirely due to US protectionism of lumber.
I'm not a fan of protectionism either, but that particular example is not true at all.
Lumber prices rose because at the start of the pandemic, the industry predicted a housing crash and took drastic steps to downsize and then the exact opposite happened. And we were left with a garden-variety supply vs demand situation.
If it was just protectionism, prices in Canada would not have had sharply increased lumber prices at the exact same time: https://www.cbc.ca/news/business/lumber-prices-covid-19-cost...
Yes, Trump's tariffs were exceptionally bad, stupid, poorly thought out, and poorly implemented, like the vast majority of the things he did.
But the fact that goofus fails at doing X doesn't make doing X always the wrong choice.