Krugman does not know anything about the economy that is in any way more useful than an average consumer, in fact Krugman knows LESS about the economy than an average consumer.
Krugman believes in Keynesian nonsense, actually in the last few years the official party line became even worse than what Keynes himself was talking about. Today the government and its mouthpieces (the likes of Krugman and the MSM and the rest of the so called 'main stream economists') are touting the idea that inflation is necessary, they are not even just saying that they are scared of deflation, they are now scared of this new scarecrow: 'lowflation'. Krugman will have you believe that consumers suffer from lower prices, that if a consumer comes to a supermarket and sees prices that are lower than the year before or that are even not higher than the year before (by at least 2%) then the consumers suffer.
Krugman is not an economist at all, he is just a propaganda spewing con-artist and the PhD that he holds is simply a 'mainstream' way to give him some credence within the system. Krugman can always be relied upon to come out with the most idiotic schemes for 'fixing' the economy or like in this case 'fixing' the environment.
The only thing that import tariffs against China will do is raising import prices for the Americans. The Chinese have a gigantic domestic market that they can tap in the moment they let the exchange rate for their currency float. More than a billion people that are ready to buy stuff the moment the government stops subsidising USA consumer by printing its own currency to buy USD and US bonds The Chinese do not need Americans, the Americans need the Chinese much more. China is a productive country - they produce the stuff everybody else buys.
America is not a productive country, which is clear from its gigantic trade deficits and debts. 47Billion USD in trade deficit last month as opposed to the expected 41Billion (and all of a sudden the Canadians are 'buying' 9Billion USD worth of F35 useless piles of metal).
USA consumers are happy enough to use credit cards to buy Chinese products today with a possible 20% markup due to the cost of the credit rather than waiting and saving to spend less on the same products. Similarly they will not wait for a year to buy something they need today if they knew that the prices would go down by 1-2% in a year. Who will not buy something they need today if it costs 100 bucks if they know it will cost 99 or 98 USD a year from now? However plenty of people will buy on a credit card now with a chance to pay 120 in a year for something that costs 100 today.
For some time I thought Krugman pretends to be an idiot, now I think he is an idiot - a useful idiot. An idiot useful to the propaganda machine that uses him. To offer this 'solution' one has to be a complete moron. The USA economy is INCAPABLE of producing anything that the consumers need, which is why WalMart has profits by importing most of what the Americans buy from abroad and which is why the trade deficits are insane.
USA doesn't have factories that are waiting for the workers to be hired that can be restarted on a moment's notice. USA DOES NOT HAVE THE CAPITAL TO START MEANINGFUL PRODUCTIVE BUSINESSES, USA ONLY HAS DEBT. USA needs to go through a period of deleveraging that did not happen yet. USA needs to get rid of its government and of insane ideas spouted by morons like Krugman in order to be able to restructure its economy, to start saving again in order to have capital that then can be used to become productive again.
USA IS BORROWING MONEY FROM CHINA TO BUY CHINESE PRODUCTS. Where does Krugman suggest the American consumers get more money to buy more Chinese goods that will go up in price once the import taxes are introduced?
The import taxes are NOT going to hurt the companies, they are going to hurt Americans who will no longer have access to those goods. The companies will be able to sell to other markets, especially the local Chinese market that is simply waiting for something like an American import tax to force the hand of its government to stop fixing currency exchange rates and allow the local Chinese market to start consuming the products that the Chinese are producing.
The fact that so many /. readers are missing all of the above and actually believe in this nonsense is the sad testament of what the effect of the decades of brainwashing by the likes of Krugman on behalf of the oppressive government does to the population.