Posted on 08/30/2019 7:03:12 AM PDT by SeekAndFind
The public continues to hear or read that President Trump's trade policies are hurting the U.S. economy and destroying our relationship with the world and hurting the U.S. consumer. They say the tariffs are especially harmful and causing price increases. I am having trouble finding factual data that support those talking points. Why do we see general statements in the media instead of the actual data?
Here are some of the data:
In 2016, the last year of President Obama, exports were $1.45 trillion, and imports were $2.19 trillion.
In 2017, the first year of President Trump, exports were $1.55 trillion (up around 7%), and imports were $2.4 trillion (up around 10%).
In 2018, exports were $1.67 trillion (up around 8%, or up 15% over 2016). Imports were $2.54 trillion (up around 6%, up 16% over 2016).
In 2019, the first six months show around an $8-billion decrease in exports, or down less than 1%, and imports are up around $3 billion, or up less than 0.25%.
On August 14, the Bureau of Labor Statistics showed that from July 2018 to July 2019, import prices were down 1.8%, and export prices were down 0.9%
So which economic statistic shows that Trump's policies have hurt our relationship with trading partners around the world? Which statistics show that the U.S. consumer has been hurt? Think how much Trump's energy policies have helped the U.S. consumer.
The truth is, the U.S. economy is doing much better than most of the world and much better than projected precisely because of Trump's tax and regulatory policies. Trump is right that China and other countries have gotten away with murder on trade for decades, and Trump is dealing with it after previous presidents and Congress looked the other way.
(Excerpt) Read more at americanthinker.com ...
And why did they look away? 1) Ineptitude? 2) Corruption? 3) Impotence? 4) Indifference?
Drain the swamp.
The United States is and always has been self sufficient, not needing anything from the rest of the world to grow and survive.
The WORLD needs the USA, WE DON”T NEED THEM!!!
The answer is: All of the above.
Tariffs with China (especially if they are long term) are opportunities for lost industry and manufacturing in the U.S. to come back to life.
Most people have no idea how true your claim of American independence is.
The world indeed needs us far more than we need the world since we consume over 31% of ALL goods and services produced on the planet.
Think about that. What would happen to the rest of the producing world should America decide to stop importing and make it favorable for all goods and services we need/want to be made right here in the USA?
The answer is the rest of the worlds economies would collapse.
BTW, there is no evidence tariffs have increased retail prices. China is paying a good chunk of the tariffs and wholesalers and retailers are absorbing the rest.
As always competition (iow the market) will set the price.
Only the seriousness of the charge is important; the evidence and facts don’t matter.
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