Posted on 04/11/2018 8:01:38 PM PDT by socialism_stinX
WASHINGTON - Republican Sen. Mike Rounds on Sunday said President Donald Trump needs to explain his "endgame" to the American people when it comes to imposing tariffs on goods from foreign countries and said the U.S. should "quit fighting with Mexico and Canada."
(Excerpt) Read more at nbcnews.com ...
No. you’re not. If you were, you would know Trump campaigned on precisely what he’s doing. You clearly didn’t pay attention to a single rally speech.
1.5% tarrifs on cars imported from China. 25% tarrifs on cars exported to China. That’s just one example. What’s wrong with this picture? Keep doing what you’re doing President Trump
Wait and see
Hint: Compare the growth in GDP, to the product of average wage*# of wage earners.
The money all rolled uphill.
Also, tariffs are a far more sustainable way to gather government revenue that taxes, insofar as they trap companies and money onshore, rather than forcing them elsewhere.
Vox Day has some interesting writeups on this.
Here’s some commentary about trade wars from a distinguished economist named Robert Shiller. He thinks a trade war with China could trigger a recession:
https://www.barrons.com/articles/robert-shiller-trade-war-will-trigger-recession-1522083397
I don’t think it’s going to go that far, into a full-scale trade war, but the uncertainty created by this tariff dispute could slow down economic growth significantly this year, and it’s already taken a lot of momentum out of the stock market.
“This trade dispute with China needs to end as soon as possible,”
It will end as soon as the Red Chinese start FAIR trade with the USA. That means dollar for dollar with no tariffs/taxes, money manipulation, or government subsidies by them.
Then they can prove they are not using their extortion racket cash to build up and threaten the Pacific rim countries with their military.
Yeah, but when China puts tariffs on soybeans and that cuts exports from America, that retaliation then feeds back into companies that manufacture farm equipment and repair shops that service farm equipment, and jobs get lost in those places. I’m concerned about lost farm income in North Dakota, for example, where we have a very winnable senate election in November.
I think the tariff issue has lots of challenges and risks but I am not sure mid-term elections is one of them. Even lots of democrats like tariffs and bringing back factory jobs. In the end there is never a good time to do root canals or tariffs.
Well you have to include health insurance benefits, which have been inflating much faster than general inflation for the last 20 years, especially since the disastrous Obamacare law was jammed through the Senate (against all the polls and the will of the people). When you add in the value of health insurance benefits, then total compensation has kept up better with GDP growth. But whether you like corporate America or not, trade disputes create a lot of uncertainty and risk, and that causes delays and cancellations of capital projects, which costs people their jobs (or lost business income).
I don’t like the tariffs China is putting on farm products, which could cost jobs and farm income in states like North Dakota. All the uncertainty could also slow down GDP growth and hiring, which gives ammo to the democrats to use in campaign ads. That’s why I’m concerned about the midterm elections. One of the reasons I posted this article was to get a read on how much support there is for tariffs. Looks like there’s much more support among conservative activists than I expected to see. That’s interesting and important politically, but corporate guys and institutional investors are really bothered by tariffs and trade disputes.
Moron, guess what? China is already caving on opening their markets. You mirror the free trader sell-outs who say we should bend over for China. One would think a FReeper would base their opinions on current news instead of just spouting the usual GOPe sellout nonsense.
Endgame? MAGA.
Let me tell you a true story. I was driving through Ohio on the day before the election and I prayed silently twice for a low turnout among democrats in the swing states so that Trump would win. That’s exactly what happened. Now we need to make sure we keep control of both houses of congress in November and reelect DJT in 2020.
The right way to do trade negotiations is the way the US and Europeans handled negotiations with China around 2010, only tougher this time. They met with the Chinese trade negotiators and basically just told them “you have to start buying more products from us, or we’ll have to restrict imports severely from China.” It worked, of course, and China started importing Ferraris and BMWs from Europe, and more semiconductor products, farm products, and SUVs from America. The negotiations were out of the public arena, didn’t rattle the financial markets and corporate guys, and we got results. Now it’s way past time for round two of the same kind of group negotiations with China and Japan.
It’s like the old saying about the True Karate Master, who never has to use karate (because he’s so tough nobody wants to fight him). We need to go in there with our allies, quietly, away from the media, and tell them what we’re going to do, if they don’t open their markets and buy more products from us and cut the trade deficit. That will work again if it’s done the right way, and then we don’t rattle the financial markets and cause middle class people to take losses in the stock market, and we don’t cause delays in capital projects by business.
Pssssssssssssssssssssssssssssst...this nation has been in an undeclared DEPRESSION/one hell of the worst RECESSION, not to mention a period of rabidly escalating INFLATION, throughout the past two administrations plus ( it actually started during Bubba Clinton's presidency ), which Trump and his machinations have begun to pull this nation out of.
If anything, President trump's rattling of the tariffs, has helped, rather than harmed this nation and her economy.
The Stock Market is now mostly out of human hands/control, which began with the CRASH OF '87 ( computer program trading )and has escalated, rapidly, ever since then. Please do NOT bring up "the market", which you don't really know anything at all about, but which I do.
So like the True Karate Master, if we negotiate with our allies the right way, we only have to threaten to impose tariffs, away from the news media. We never have to actually impose a tariff because they know we’ll actually do it, and so they’ll make concessions first.
At time time, I’m basically a pro trader in the financial markets, and I have many years of business experience in corporate finance. I’m real familiar with the financial markets and what actually makes them move. So how have Trump’s tariffs helped our economy?
Just for the record, I’m highly educated, and I have a BS in Chemistry from the University of California, and an MBA in finance from the University of Chicago.
Whatever you imagine you know about the markets, I've got ya beat by so much, you might just as well be a 3 month old baby. Let's NOT go there, because no matter how much you brag, claim to be well informed/knowledgeable, with every single post, you just dig yourself deeper into proving the opposite.
You may have spent many years in school; however, neither that nor your supposed degrees made you “highly educated” nor knowledgeable.
Tariffs and excises and imposts are constitutional taxes. The personal income tax is dubiously constitutional. Why is a tariff not OK, but personal income tax is OK? I say tax the foreign goods for the privilege of transporting their goods over our infrastructure.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.