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To: kevao; TBP
Also, I wish more people would keep in mind that the greatest ongoing experiment in free trade is called the United States of America! Throughout its history, the United States has allowed unrestricted trade among the states, and in my opinion the country has benefited greatly from the specialization that free trade allows. (Just imagine trade wars between the states. What would our national GDP be in that scenario?)

This shows a complete lack of understanding on your part. The USA was formed to combat European mercantilism. The colonies, just after the war, were basically independent countries with a confederation binding them. Free trade among them is NO accident. The lack of duty free trade with other nations no accident. It was designed that way and codified in the USC.

Your la la Utopian free trade world is NEVER going to happen - ever. The rest of the world does not believe in free trade so WE HAVE TO RETALIATE. Thank God for Trump and thank GOD you globalists are on the way out. Now shut up and let patriots do our "thing".

53 posted on 06/12/2018 5:00:06 AM PDT by central_va (I won't be reconstructed and I do not give a damn)
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To: central_va

https://taxfoundation.org/adam-smith-trump-tariffs/

One of [Adam] Smith’s first sections in the Wealth of Nations dwells on the importance of trade in allowing us to specialize:

As it is the power of exchanging that gives occasion to the division of labour, so the extent of this division must always be limited by the extent of that power, or, in other words, by the extent of the market. When the market is very small, no person can have any encouragement to dedicate himself entirely to one employment, for want of the power to exchange all that surplus part of the produce of his own labour, which is over and above his own consumption, for such parts of the produce of other men’s labour as he has occasion for. (Bk. 1, Ch. 3)

Here Smith is saying that a greater ability to transact with one another—across a community or across the globe—makes for a greater ability to specialize in any particular task. Specialization allows us to produce more goods and services with less time, effort, and raw materials, and a bigger market gives us more people to trade those goods and services with in exchange for our wants and needs.


58 posted on 06/12/2018 7:29:48 AM PDT by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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To: central_va

https://finance.yahoo.com/news/trumps-proposed-tariffs-wont-bad-happen-next-220111328.html

President Donald Trump said Thursday that he would soon impose tariffs of 25% on steel imports and 10% on aluminum imports from countries around the world. Analysts agree the tariffs themselves are likely to have minimal impact as steel and aluminum account for about 2% of imported goods.
Rather, analysts worry that the response from U.S. trading partners could be major.
“The big issue there is if there’s retaliatory tariffs … that would become a big issue if that happens,” Jim Paulsen, chief investment strategist at Leuthold Group, said in a phone interview. “If a lot of countries got involved, it’s a dangerous slope that [Trump is] playing here.”
Goldman Sachs said in a note to clients that the tariffs, if finalized as currently proposed, would be “the most substantial trade restriction the Administration has announced to date.”
Retaliation
While much of Trump’s rhetoric on “unfair” trade deals has been directed at China, much of the steel and aluminum imported to the United States actually comes from Canada, Mexico and other countries in the Americas. U.S. trading partners have already started to respond.
Canadian Trade Minister François-Philippe Champagne called the tariff proposal “unacceptable,” with the German Steel Association saying that the proposal would violate World Trade Organization rules.


61 posted on 06/12/2018 7:37:57 AM PDT by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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To: central_va

Lots of good info here:

https://www.reddit.com/r/badeconomics/comments/5qd045/global_tariffs_are_a_bad_idea/


62 posted on 06/12/2018 7:39:16 AM PDT by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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To: central_va

http://www.freerangereport.com/index.php/2018/04/08/cattlemen-respond-to-china-including-u-s-beef-on-retaliatory-tariff-list/

“It is unsettling to see American-produced beef listed as a target for retaliation. Sadly, we are not surprised, as this is an inevitable outcome of any trade war. This is a battle between two governments, and the unfortunate casualties will be America’s cattlemen and women and our consumers in China. The Trump Administration has until the end of May to resolve this issue. We believe in trade enforcement, but endless retaliation is not a good path forward for either side.”


64 posted on 06/12/2018 7:42:27 AM PDT by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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