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djoldman 3 days ago

In a world with no friction, one would want tariffs to apply to all goods. The de minimis exemption dealt with the fact that it was a PITA to do all the paperwork etc. that accompanies a tariff.

Obviously the main problem is that tariffs do not lead to positive future outcomes for the country levying them.

eviks 2 days ago | parent [-]

In a world without friction tariffs wouldn't exist since they represent friction