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.
Consider the source.
Rev.3.9.
I'm afraid that everything President Trump accomplishes will be washed down the drain the next time a liberal is elected.
All of his hard work and great leadership will be erased.
I hate liberals.
I'm not a big fan of tariffs, but Trump's using them to fix horrendous messes left for him by prior administrations.
PT is just a great break. We are headed for conflict.
the mass media is communist/nazi/progressive leftist propaganda.
but i don’t like the new 5% tariff either.
put simply, there’s almost nothing coming in from Mexico that will be seriously hurt by a 5% tariff
...so I think the tariff will have almost no influence or effect in persuading the Mexican government to help us stop the invasion (especially to stop the Moslem/terrorist supporters or terrorist fighters....and the MS13 drug gang guys;...they’re very dangerous )
now, a 30 or 40% tariff would slow trade with Mexico, and get the Mexican govt’s attention.
maybe pDJT is just starting nice and easy, and will work up the stakes until we get some cooperation? I sure hope so, because 5% is only good for generating bad press in USA mass media....nothing more
Likely reaction to the Impeachment threats.
The yield curve shows that the Federal Reserve is doing the damage to the economy and the stock market. The Fake news is Faker than usual.
https://stockcharts.com/freecharts/yieldcurve.php
but i don’t like the new 5% tariff either.
...
The tariff goes up in increments every month that Mexico refuses to cooperate. It will get to 25% by this October.
I see.
FINE, that sounds like it may work. thanks
Really? Is a few weeks "protracted"? Come on, Snowflake, look up the words you don't know.
...cost U.S. companies and consumers billions...
Evidence? I see no numbers to support this, only conjecture. Typical liberal research...that it, none.
... is threatening to tip the economy into a recession...
Evidence? My statistics show record low unemployment across the board, real economic growth and stable prices. Where's your evidence?
Liberals would get a lot further if they actually used some real numbers from a credible source instead of screaming from their parents basement.
IIRC, it dropped just a couple of weeks ago, then it rebounded — to new heights — the next week.
It’s the market. It does up. It does down. Many times, it does that in the same trading day.
DOW SINKS? I guess that depends on your definition of “sinking.” Mine is anything over 4%. Today’s results:
DOW -1.41%
S&P 500 -1.32%
NASDAQ -1.51%
Nope, no sinkers today. Not even close to being “DISASTROUS.”
The stock market is still higher than when obama was in office.
The stock market peaked in April at an all time high. We have “crashed” back to February levels after testing new highs. There is absolutely nothing wrong with the stock market.
We are at war with Mexico. Nobody but Trump (and us) seem to care about the long range consequences.
oh, vanity fair...the place I go to for financial advice.
Not even worried.
consider: these liberal morons are protesting that the economy made better by Trump’s policies is (according to them) being made worse by...wait for it...Trump’s policies.
Getting Business News from a mag called “Vanity Fair” is ridiculous on its face. its hard to stop laughing at their name.
Good. Mexico will break. SOON.
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