Posted on 05/31/2019 3:08:33 PM PDT by ransomnote
At present the U.S. is involved in a protracted trade war with China that has yielded nothing in concessions from Beijing, cost U.S. companies and consumers billions, obliterated $5 trillion from the stock market, and is threatening to tip the economy into a recession. At the White House, Donald Trump has learned the lessons of this failed strategy and decided to…drag the U.S. into another unwinnable trade war, this time with one of our neighbors and largest trading partner.
Yes, Tariff Man announced Thursday night that starting June 10, he will impose a 5 percent tariff on allMexican imports, a levy that will “gradually increase” all the way to 25 percent until undocumented immigrants stop crossing the border. Tariffs, of course, are usually used to counter trade violations as opposed to being a blunt instrument to deal with border security, but reason and logic have no place in this administration. If they did, someone would have likely been able to get it through Trump’s head that this move will badly damage the U.S. interests, a point that has thus far eluded him.
An across-the-board tariff on all Mexican goods would exact a serious toll on American consumers and corporations, and is likely to generate significant opposition among businesses. Rufus Yerxa, the president of the National Foreign Trade Council, which represents the nation’s largest exporters, called the move “a colossal blunder.”
Mexico is Washington’s largest trading partner, sending across the border items like tomatoes, cars, and rugs. Mexico sent the United States $346.5 billion of goods last year—meaning that a 5 percent tariff on those products would amount to a tax increase of more than $17 billion. Most of the costs would then be passed on to businesses and consumers. Mexico’s deputy foreign minister for North America, Jesús Seade, said at a hastily arranged news conference on Thursday that Mr. Trump’s announced tariffs would be “disastrous” and suggested Mexico could retaliate against American products.
Yes. We are headed for a great conflict. one we won’t be able to vote our way out of.
Thanks. I may have a followup question, but I need to do my assigned reading and study first. LOL
I am a huge fan of tariffs. Is there nothing they can’t do? the protect US industry and wages, raise revenue and can control our borders!!! win win win
Import tariffs are inflationary and other countries tariffs on our exports are deflationary. All in all it’s a push.
Except that it does raise revenue, a lot of revenue.
It was originally Vanity Above Average but they thought that sounded too vain.
That is the post of the day Cat.
I don’t like money moving from my wallet to government coffers. All in all, it’s better with me.
Then don’t complain about the budget deficits. You have lost that privilege.
Collect less, spend much much less. Leave us alone.
I would believe Trump is graduating
the scale to lesson the impact of
higher prices being paid. More or
less giving consumers time to find
alternate sources. A 25% tarriff
all at once would be a tough pill
to swallow.
You will never hear a word from her ever again, if the President did one simple thing: settled a few thousand illegals, MS13 members, and muslim refugees into her neighborhood.
Game Set Match Checkmate Finito
Glad you mentioned tomotoes, the Mexican farmers raise
them on pesos and sell them up here for dollars, the Mexican
kingpins are making a fortune and the American tomato growers
are going broke or already bank rupt years ago.
Raise the hell on tomato tarifs !Trump!.
Unless the enemy is the Republican Party. Then they yield nothing and win everything.
This tripe did come from Vanity FAIRY.
Is there a list somewhere of all the things that are made in Mexico, that will be effected by the tariffs, so I know not buy them anyway. All the talk of tariffs, which I support wholeheartedly and want to start out higher than 5%, is great. But, what happens if we just don’t buy their crap and the stores stop ordering it and their entire manufacturing operation comes to a halt from lack of sales, rather than a tariff imposed?
Or just really restrict travel there w/ regards to tourism. Shut down any consulates in the tourist areas, if they have them. Let American tourists know that if they vacation in Mexico, the only place they can go for help is the embassy in Mexico City. Let a few Gringos get rolled up by the Mexican police, etc and lets see how full Cancun and the other vacation spots are.
Oil, remittance, tourism....can’t take away their oil, but we can, for damned sure, do something about their remittance and tourism. And not a tariff would be imposed.
I went to school in the Happy Valley. Right down the street from Amherst College.
At least at BC or BU, because of their athletic programs, you’re going to get some kids in those schools from a blue collar, middle class upbringing. That ain’t happening at Amherst College. I used to bartend up there when I was at UMASS. Those kids come into the bars, dripping money. Many of them are legacy students whose parents went there or their moms went to Smith College, down the road in Northhampton. Either way, these kids were Spalding, to the Nth Degree.
I’m sure it’s different now, as the school wants diversity more than anything, but it still costs a fortune to go their.
I want to say that at one time, the schools endowment rivaled Harvard’s, and it’s a very small school.
Well, the President threw out a low card to get Mexico’s attention. He has stated that absent positive response from Mexico he will amp up the tariffs. Let’s see how stupid the Mexicans are.
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