raising import tariffs and a strong US dollar may help cancel out the effects
This ignores the reciprocal actions of our trade partners. You can bet that if we raise tariffs on goods from other countries, those countries are going to do likewise to our goods (populism is all the rage everywhere these days). Along with the strong dollar, US goods will be doubly uncompetitive. Export sectors of the US economy will crash.
This ignores the reciprocal actions of our trade partners. You can bet that if we raise tariffs on goods from other countries, those countries are going to do likewise to our goods (populism is all the rage everywhere these days). Along with the strong dollar, US goods will be doubly uncompetitive. Export sectors of the US economy will crash.