Skip to comments.Why the tariffs are bad news for America and for Donald Trump
Posted on 06/02/2019 11:27:02 AM PDT by E. Pluribus Unum
President Trump has announced that the United States will impose new tariffs of 5 percent on all Mexican imports starting this month. The White House said the tariffs will gradually increase to 25 percent by October if Mexico does not take action to reduce or eliminate the number of illegal aliens crossing into the United States. Put simply, these tariffs are bad for the country, bad for the markets, and bad for Trump.
The impact of these tariffs will be felt nationally and will have painful consequences for the economies of more than two dozen states, ranging from California to Michigan to Texas. We are already seeing the negative impact of these tariff threats on the markets. In the morning after the news, the Dow Jones Industrial Average dropped 300 points, the S&P 500 Index fell 1.2 percent, and the Nasdaq lost 1.3 percent. Automakers such as Fiat Chrysler, whose stock dropped 5 percent, were some of the biggest losers, as they heavily rely on imports from Mexico.
It is clear that investors are rattled over the disruption that these tariffs will cause to global economic growth and business. While the tariffs Trump imposed on China were connected to palpable economic issues such as access to markets and intellectual property, his latest move of using tariffs for merely political ends represents a major departure that will only backfire and damage his chances for reelection in 2020.
ADVERTISEMENT Ultimately, these tariffs will essentially nullify the main accomplishment of the Trump, which is a strong economy. It also has the potential to kill the ratification of updates to the North American Free Trade Agreement, a top priority for the Trump administration...
(Excerpt) Read more at thehill.com ...
Doug the lefty is giving us on the right advice? NOT.
Looks like Chamber of Commerce rather have cheap labor than a country
No doubt the US economy will be adversely affected by tariffs. Trump is playing a game of chicken, but he’s driving a tank while Mexico is driving a VW bug.
“merely political ends” Operative phrase. Perhaps, but what about diseases, drugs, illicit goods, the increased burden on health, welfare, education, and other resources—not to mention the future of the country—as in cheap labor for future RAT votes? That is not important in her view? Everything is political to the left.
I don’t think they understand what Trump is trying to accomplish. The article’s premise is that the tariffs will be permanent. They will only last until Mexico feels enough pain to stop the flow of illegals. Mexico is complicit, photos show police escorts and buses. Obviously, somebody is also providing food, water, medical attention...anything to make sure the illegals get to the US as quickly as possible. Yesterday it was reported that Mexico’s president said the illegals had the right to settle in America. This man needs an attitude adjustment and Trump is the guy to do it. Trump has limited tools to use so he selected the one he thought would be most effective. Personally, I’d have started at 10% and bumped it up five percent every seven days. At some point early, I’d discourage American tourism. I would also announce an impending (date to be announced) closure of the borders to all personnel traffic who can’t prove citizenship. But, then, I don’t have Trump’s patience and sunny disposition. ;)
No pain no gain. To paraphrase fans of exercise,
that pain you feel is migrants going home.
The mistake Doug makes is thinking Trump is not for free markets. Trump uses tariffs to open markets and make them free
Yak... yak... yak... The Sky Is Falling drama and sensationalism is epic. Those Americans why may, possibly experience a price increase on a tomato or asparagus speer should be willing to take the 39 cent for their country.
There is some kind of psychosis going on with tariffs. Every other country uses tariff to their advantage and they are as normal as any other economic tool.
But in the USA just saying the word tariff brings about fear and loathing like the black plague.
that’s not the pain- that’s the gain...
any movement by the nasdaq to 7,000 or even 6,500 is a buying opportunity.
But one must be patient to see if it holds those levels.
I TOLD folks I knew when 8,000 didnt hold for the second time to sell half of whatever stocks they owned and buy back cheaper later on.
The worst that could have happened was they made half as much and once 8,000 was securely broken through, could have bought back again.
I understand most people dont like to time the market.
But I wasnt advising wholesale liquidation.
In the long run, the new supply chain will be in our favor, as well as for those emerging economies who catch the slack.
Whats really happening here is that the Chamber sees these immigrants as new CUSTOMERS, not necessarily workers.
Explain then why every one of our trading partners(econ-rapists) use tariffs to their advantage? Do their businesses schools view them differently than ours?
Repeal the 16th( and 17th) amendment and make the tariffs permanent
This guy and Adam Schiff are inter changeable.
For some unknown and hideous reason, Schoen has wormed his way into our space...BUT NOT ON MY TV.
SCHOEN shows up.....CLICK
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