[Gaffer]

This is rather a one-sided argument, frankly. One has a foreign support network of growers and workers who pay no US income taxes, or SS, Medicare or any of that other support structure taxing that goes hand in hand with say what the other’s supply structure looks like.

In other words it is an argument supporting the writer’s foregone conclusion with no real acknowledgement of the other side of the coin, IMO.

BTW, I am not pro tariff en masse. I personally think tariff impositions should be looked at on a case by case basis to decide whether outside governmental interests are manipulating the market conditions, and cost structure.

[Drago]

Not a big fan of tariffs, but this guy’s argument is is obtuse, convoluted and kinda lame. What is with all the “grocer” references? Grocery items are probably the least imported items in the USA and most all grocers are USA based?!?? There have got to be better anti-tariff arguments out there!

[dp0622]

Great to pick and choose scenarios and industries.

I guess competing with workers who will slave for 12 hours for pennies is fine as long as we get a cheaper product.

I suppose paying a few extra bucks so Americans could have jobs is too much to ask.

I guess China killing dogs and robbing tech ideas when they’re not busy poisoning baby food is cool.

HELL, the CHEAPEST way to get our products down is illegal workers!!

We should let MORE in!!

Wait, that’s wrong you say?

So are all the things corporations and foreign govts are doing to undermine our economy.

[Reverend Wright]

that’s all great.

So in the next war when the USA needs to convert auto assembly lines to military production... no problem, we can just import tanks and trucks from China.

Oops. China is the enemy that just attacked us. I guess we lose the war.

[Mollypitcher1]

Donald J. Boudreaux is a horses ass who has no knowledge of the viability of tariffs which BUILT THIS COUNTRY! He should be fired for his disgusting misinterpretation of the value of tariffs when used properly. He is just another GLOBALIST as is proven by his stupid comments. Conveniently, all these globalists leave out the fact that globalism weakens the financial viability of a country. Would you rather spend your money with your neighbor whom you know, or with someone in China across the world where you have no recourse if the product is foul? Your neighbor will probably wind up buying something from you, but the Chinaman will be busy using your money to buy you out and therefore control you and your country. We are in a very bad situation when we have such an enormous TRADE DEFICIT!!!
China has manipulated their currency in order to completely undersell us repeatedly. That is ILLEGAL, but our government has done NOTHING to hold China accountable. Trump will make ACCOUNTABILITY a WATCHWORD in Washington again.

[expat_panama]

Happy Thursday and it's "Market Under Pressure"! 

Yesterday's stock index hit of most of a % was in rising volume and IBD's rating downgrade came w/ the distribution day (traslation available upon request).

Futures traders are looking glum too w/ stock indexes at -0.58% and metals -2.02%; gold and silver continue their declines now down to $1,324.9 and $18.63. 

Stats galore:

8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Durable Orders
8:30 AM Durable Orders, Ex-Transportation
10:30 AM Natural Gas Inventories

Future FR threads:

Charts Signaling Market Heading to Correction - Sue Chang, MarketWatch
It Only Seems Like the Economy Is a Disaster - Chris Matthews, Fortune
Fed Turns Up Volume, Market Tunes Out Message - Caroline Baum, MW
Treasury Can't See Inversions Aren't Problem - William Shughart, RCM
It's a Happy Norm for Jobs to Disappear - Daniel Gross, Strategy+Busines
Robert Samuelson: The Comeback Of Middle-Wage Jobs
Federal Deficits Explode — Is Anyone Paying Attention?

[odawg]

Article is complete nonsense replete with the usual straw man arguments.

I bought a storm door the other day and it had an American flag on it and displayed a “Made in America” notice. Or as Paul Harvey use to say, “Made in America by Americans.” So the job and the money stayed in the United States, to the chagrin of this writer.

The writer does not bother to explain why, if tariffs are so detrimental to a nation’s economy, that other nations, such as China and Japan, do not get rid of theirs. These people NEVER explain that. For some reason, the United
States alone produces economists and politicians who think tariffs are evil.

So I guess it is up to me to explain it. Tariffs, intelligently applied, protect industries that provide employment. People working create a positive economic cycle.

Remember the reasoning of Henry Ford to raise wages. It was so people could afford to buy his cars.

[Yo-Yo]

Clearly, supporters of tariffs believe that certain domestic producers have a higher claim on some portion of your income than you have.

A backhanded attack on Trump's stated trade policies?

[Steven Tyler]

When a global company (Mylan) contributes heavily to the Clinton Crime Family for the priviledge to conduct business in the US (sell EpiPens) and must double the selling price to fund the Bribe, would that bribe increase the Consumers cost?

Lets eliminate the Clinton Crime Family bribes and the Chinese cheating on Trade agreements.

Citizens can no longer support Criminals nor foreign nations

[4rcane]

tariff is better than business taxes

[bert]

Amen

[iontheball]

The no tariff crowd rail against tariffs while our foreign trade ‘partners’ keep screwing us year after year. As Trump says the trade deficit effectively translates into U.S. foreign aid that has built foreign countries on the backs of Americans and it has been going on for way too long. The no tariff crowd has no solution to get rid of the imbalance other than propose membership in TPP!! I have had it with these traitors.

[Raycpa]

Trump plan would lower domestic tarrif known as taxes. He said he would threaten tarrif on existing companies and on those products whose governments are attempting a monopoly. I thought liberals hate monopolies.

[HamiltonJay]

Wow engage in hyperbole much? This article is drivel... But our public educational system is failing so badly I have no doubt far to many who read this non argument will buy into it.

[j.argese]

Yes. It's preferable to tax citizens.

More inanity from the crony captialists, otherwise known as fascists.

People are looking behind the curtain, Mr. Crony Capitalist.

[MrEdd]

An idiotically constructed and dishonestly presented piece of garbage.

[Enlightened1]

Globalist horse$hit!

We had tariffs from the inception of our free republic in 1787 until late 1996 with the passing of NAFTA. As a matter of fact it was tariffs that funded the Federal government. Hence, there was motive to let people and business within the United States be free to generate more tax revenue for the Republic. Under the previous trade system that the Globalist hate the United States became a super power. We became number one in many things. Today we still have true free trade between the States.

The rigged trade command and controlsystem this professor, who never ran a business, is pushing for has been tried and it has led to the collapse of our Republic. We cannot continue to pay tarrifs to China while they pay nothing to us. It will continue to drive all businesses out of our country. Ditto the currency manipulation China does too when we are export too much to China We have tried this for 20 years now and it has turned into a disaster. Our Republic was stronger in 1996 when we were still feeling the ripple effect from the Regan tax cuts in the 1980s.

[InterceptPoint]

Since there has been not single anti-tariff post on this thread I thought I would be the first to do so. I'm a big Trump fan but he will never convince me that he knows more about foreign trade and economics than Milton Friedman. He doesn't nor do most if not all Freepers including myself.

Tariffs are tax. We pay it. You and I pay it. It may look like the Chinese are paying it but they aren't. It's just money flowing from our bank accounts to Washington D.C.

Here is what Milton Friedman thinks:

Governmental measures constitute the major impediments to economic growth. Tariffs and other restrictions on international trade, high tax burdens and a complex and inequitable tax structure, regulatory commissions government price and wage fixing, and a host of other measures give individuals an incentive to misuse and misdirect resources, and distort the investment of new savings. What we urgently need, for both economic stability and growth, is a reduction of government intervention, not an increase.

Source: Capitalism and Freedom, by Milton Friedman, p. 67 , Nov 15, 1962

[Enlightened1]

Globalist horse$hit!

We had tariffs from the inception of our free republic in 1787 until late 1996 with the passing of NAFTA. As a matter of fact it was tariffs that funded the Federal government. Hence, there was motive to let people and business within the United States be free to generate more tax revenue for the Republic. Under the previous trade system that the Globalist hate the United States became a super power. We became number one in many things. Today we still have true free trade between the States.

The rigged trade command and controlsystem this professor, who never ran a business, is pushing for has been tried and it has led to the collapse of our Republic. We cannot continue to pay tarrifs to China while they pay nothing to us. It will continue to drive all businesses out of our country. Ditto the currency manipulation China does too when we are export too much to China We have tried this for 20 years now and it has turned into a disaster. Our Republic was stronger in 1996 when we were still feeling the ripple effect from the Regan tax cuts in the 1980s.

[xzins]

Such a dumb article. Why? Because it is pure advocacy of globalism.

We are either a team in this nation or we have joined the globalist team.

If we are a national team, then we certainly do give first look at our own domestic suppliers. We certainly do make sure we are providing everything within our own borders that is necessary to our independence and security. We make our own food. We build our own ships, planes, machines. We provide our own technology. And we support our own team first.

Let the globalists hawk their foolishness about owing our grocer money. What they are actually trying to do is to drive YOUR sovereignty, your security, and YOUR wage down to global levels.

Reject it. It’s foolishness.