RE: LeoThread 2025-05-08 15:34
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The notion that raising tariffs will prompt local industries to adapt presumes that all stakeholders see these measures as permanent—even if one overlooks the immediate economic downturn from reduced trade and the awkward pace of change.
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The reality is that most informed observers now view these moves as temporary, given the unpredictable and erratic leadership in charge and its implications.
Political uncertainties, including potential leadership changes and the limited lifespan of an unfit elder statesman, introduce significant doubt, leading to steep discount rates.
Large-scale investments span over five years, exceed typical political timelines, and initially depend on increased imports.
Commitments of such magnitude require stability and certainty, particularly when products like wine might need more than a decade, and olive oil over 12 years, to fully yield returns.