Posted on 04/04/2025 11:35:12 AM PDT by E. Pluribus Unum
The president’s aides insist the fallout will be short and ultimately result in a better economy, as economists warn of higher inflation and slower growth.
In the weeks leading up to his expansive global tariffs, President Trump and his top aides tried to prime the public for economic pain. They warned that while there would be fallout from their aggressive trade strategy, it would prove short-lived and benefit the economy in the long run.
Investors, businesses and others made clear on Thursday that the U.S. economy was not ready to accept that approach. Global markets tumbled, economists warned of a possible recession and consumers braced for price increases on cars, food, clothing and more.
The early tumult underscored the high stakes of Mr. Trump’s agenda, which the president has framed as a painful medical procedure to rescue an economy he likened to a “sick patient.” In the eyes of Mr. Trump, the United States is going to “boom” once his tariffs have had time to reset the nation’s trade relationships, raise revenue and boost domestic production.
But those tariffs are expected to send prices skyrocketing in the interim, an unwelcome development for Americans already struggling with years of elevated prices. Several economists have increased the odds of a recession in their forecasts as they projected a slowdown in consumer spending, business investment and economic growth.
A new analysis from the Yale Budget Lab found that Mr. Trump’s overall tariffs could cause price levels to rise 2.3 percent in the short term. That would translate into an average loss of $3,800 in purchasing power per household based on 2024 dollars.
“Prices are going to go up, period,” said Martha Gimbel, executive director of the Yale Budget Lab, adding that companies were going to feel the immediate...
(Excerpt) Read more at nytimes.com ...
Do I have that right?
As a surgical nurse I would say the exact same thing. Those drops in the Dow are surgery
I always tell my patients on doing any treatment “yes. This is going to hurt.”
The American People are the cure.
Tariffs give them a fighting chance.
Trump has been talking about tariffs since the 80s..he ran his ENTIRE campaign over “Tariff being the most beautiful word in the english language” yeah some are like “WHAT, I cant believe he did this” yeah a politician doing what he promised what a concept
Prices have been going up. And even if Trump did nothing about correcting the trade deficit through tarrifs, they would still go up.
But critics will be the first to complain that tarrifs are the sole reason why prices go higher. Temporaily higher.
No, you do not have it right.
Our new tariffs are not being set to mirror tariffs set by our trading partners.
The Office of the United States Trade Representative explicitly bases the tariffs on the size of trade surpluses other countries have vs. us. It does not address foreign tariffs.
There is no “reciprocity.”
Tariffs are not the sole cause for higher prices, but THESE tariffs will be substantial and will severely jolt inflation.
I don’t care what anybody from Yale thinks (basically any ivy league indoctrination center).
He did not promise a global trade war with tariffs of this magnitude. These are the highest the United States has levied in over a century.
Bottom line if I am going to pay more anyway (and we always will, prices will go up regardless) I’d rather it stay here in the US.
Go hide in a corner, newbie.0
Where did I use the word "reciprocity?"
Trump’s tariffs are meant to leverage other nations who the U.S. pays a lot of money and who owe the U. S. a lot of money.
In those terms, tariffs have done their job in forcing other nations’ cooperation.
Also tariffs are supposed to help bring industry back to the U.S. The validation of that purpose is debatable.
Tariffs hurt the consumers of the tariff-imposing nation, in this case the U.S., because tariffs force higher import costs and, therefore, higher prices.
At some point CUTTING THE MOSLY UNCONSTITUTIONAL GOV’T is the best way to right the economy and and get American manufacturing, industry, and economy rolling again.
So the important thing is getting cheap stuff from China.
Got it.
I still believe that these proposed tariffs are just motivational tools designed to straighten out the trade imbalances and that most countries like China and Mexico will take their own proactive steps to avoided this tax hike.
https://www.perplexity.ai/search/what-countries-have-already-an-1N6PITOORG.1_1tH0.7qRA
To The New York Times, the economy is Joe Biden and Joe Biden was the most intellectually acute President to ever hold office.
People do not like pain. Its akin to a junkie getting clean. The transition is rough, the tactics brutal but in the end its worth it. To continue on the trajectory we were on all across the national economic spectrum was unrealistic, no matter how many “economists” chime in. These are the same experts that are almost always wrong and never have to suffer consequences for their terrible takes.
THIS
Your trollness is showing again.
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