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Tariff Man Unchained: Trump hits Mexico on trade to solve a U.S. immigration mess.
Wall Street Journal ^ | May 31, 2019 6:53 p.m. ET

Posted on 06/01/2019 3:24:53 AM PDT by reaganaut1

...

Only months ago Mr. Trump signed a new trade pact with Mexico and Canada to replace Nafta. The deal reassured financial markets. But now he whacks Mexico with unilateral tariffs that violate Nafta and World Trade Organization (WTO) rules. Other national leaders can be forgiven for concluding that any trade deal with Mr. Trump is subject to revision on his personal political whim.

The tariffs could also complicate passage of the new U.S.-Mexico-Canada deal in Congress. Mr. Trump is invoking a 1977 statute—the International Emergency Economic Powers Act—to impose the tariffs after declaring an emergency. The Congressional Research Service says the law has never been invoked for tariffs. “This is a misuse of presidential tariff authority and counter to congressional intent,” Senate Finance Chairman Chuck Grassley said Friday.

If the tariffs are imposed, the economic damage could be considerable. Mexico exported $371 billion to the U.S. in 2018, and it is now our largest trading partner. A 25% tariff would impose costs of some $90 billion a year. Mexico may suffer the most, which could perversely drive more illegal migrants to the U.S., but America would also be a loser.

Mr. Trump, in his Fortress America mind, says businesses could merely move to the U.S. to avoid the tariffs. But that would impose enormous transition costs and take years to execute. Many exporters would move out of North America. Meantime, Texas imported $107 billion in goods from Mexico in 2018, and a 5% tariff would impose a $5.4 billion tax. A 25% tariff would mean $27 billion in border taxes.

All of this arrives at a moment when global trade has been growing more slowly amid rising trade tension. The WTO said in April it expects global trade volume to grow by a mere 2.6% this year

(Excerpt) Read more at wsj.com ...


TOPICS: Business/Economy; Editorial; News/Current Events
KEYWORDS: aliens; illegals; immigration; mexico; tariffs; trump
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To: Oatka

Wall Street is part of the swamp. All in.


41 posted on 06/01/2019 1:23:12 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

Wall street is business and the very essence of America

The business of America is business.

You can not do business while whining under a rock


42 posted on 06/01/2019 1:28:55 PM PDT by bert ( (KE. NP. N.C. +12)There were Democrat espionage operations on Republican candidates)
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To: bert

Wall Street is financial and paper wealth transfer engine they’d be happy to turn the USA into an agrarian nation that also sells equities. Wall Street does not create real wealth....


43 posted on 06/01/2019 1:33:33 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: reaganaut1

My stock goes up then Trump mentions more tariffs and the stocks go down including mine.... !
My stock AMD is going between about $26 to near $30 this year because of this. I am thinking of selling at the higher range next time as I suspect this tariff business (which is needed) will be going on for sometime. Of course buying back when lower and hoping it goes up again then repeat.


44 posted on 06/01/2019 2:00:14 PM PDT by minnesota_bound
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To: minnesota_bound

It’s time for patriots and not pussies.


45 posted on 06/01/2019 2:01:07 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: minnesota_bound

Market timing? Good luck.


46 posted on 06/01/2019 2:02:52 PM PDT by sparklite2 (Don't mind me. I'm just a contrarian.)
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To: linedrive

Trump is an entrepreneur. See a problem that looks unfixable then find a way to solve it.

This is what Congress is supposed to do. Not throw their hands up and retreat to their safe zones of inhumane, this is not what this country was built on etc....

B.S. The original immigrants escaped tyranny, you create it cloaked in weasel words and deeds...


47 posted on 06/01/2019 2:09:35 PM PDT by patriotspride
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To: central_va

So what?

For those that have no paper wealth, Wall Street is unnecessary

For those with paper or electronic ledger wealth, the ability to transfer that wealth is necessary.

Since the business of America is business, Wall Street exists to facilitaate that business.


48 posted on 06/02/2019 4:57:37 AM PDT by bert ( (KE. NP. N.C. +12)There were Democrat espionage operations on Republican candidates)
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To: bert
The USA can't service and finance it's way to property.

Wealth comes from mining, manufacturing and agriculture.

49 posted on 06/02/2019 5:00:47 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

——Wealth comes from mining, manufacturing and agriculture.——

All the above are accomplished by corporations that require capital that is supplied Wall Street.

Therefore, no capital no wealth

Presently, great wealth is accumulated by corporate founders and corporations that do none of the above. Alphabet, Facebook and Microsoft do not mine manufacture or grow anything. They exist because extremely large sums were raised by venture capital firms that eventually had IPO’s on Wall Street.

Your mind is fixed on the far past of the last century and cannot grasp the reality of the present


50 posted on 06/02/2019 5:10:27 AM PDT by bert ( (KE. NP. N.C. +12)There were Democrat espionage operations on Republican candidates)
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To: bert
All the above are accomplished by corporations that require capital that is supplied Wall Street.

But we have borders, we a have citizens. All of that wealth creation should be here not in a foreign country. When you import you ship wealth OUT of the country.

51 posted on 06/02/2019 8:54:33 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

So what?

We live in a country where we have the freedom do do business where ever in the world we can. Isolationists like you want to curtail, even force a stop to that freedom. You oppose the very basic tenent of the American founding.....liberty.


52 posted on 06/02/2019 8:59:34 AM PDT by bert ( (KE. NP. N.C. +12)There were Democrat espionage operations on Republican candidates)
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To: bert
We live in a country where we have the freedom do do business where ever in the world we can.

Now you are really straying off course and into la la land. The opposite is true. There is nothing in the US Constitution(USC) that protects that fake free trade freedom you described. Actually the opposite is true. See I read the document unlike you. The USC protects free trade between the states and allows for duties and levies(tariffs) for imports from FOREIGN COUNTRIES.

Game set match, now go to bed little ignorant traitor man and get some rest.

53 posted on 06/02/2019 9:09:37 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va

Ha...... reality is much different than your misinterpretation. Were is not so, Amrica would not exist.

Of course, you desire a nation of under rock dwellers having no liberty no freedom


54 posted on 06/02/2019 10:26:30 AM PDT by bert ( (KE. NP. N.C. +12)There were Democrat espionage operations on Republican candidates)
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To: bert

America was virtually trade free until after WWII you idiot. Our wise ancestors grew, mined and made everything for themselves. Then Free Traitors™ like you gave away the store. If we ever get into hot war with China you better keep that treasonous lying pie hole shut or you will end of dangling from a lamp post.


55 posted on 06/02/2019 10:31:22 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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