We all have trade deficits with our local grocery stores. Southeast Asia and Mexico will always have a trade deficit because they can't afford to match a superpowers spending.
His trade stupidity will kill us.
You said Trump and "think" in the same sentence - why? LOL
Any fool knows it's not possible to have equal trade when you have one country with a population of 330 million (USA) and another with 40 million (Canada). Basic common sense. That country of 40 million only needs "x" amount of goods in a given year from the 330 million people company, so they buy what they need.
However, large pop. country (USA), buys 100 times more stuff from small pop. country (Canada), because THEY NEED the resources! They include the following:
Crude oil $97,187,166,000 Cars $34,871,102,000 Petroleum gases $14,754,873,000 Processed petroleum oils $13,129,797,000
Automobile parts/accessories $11,629,715,000 Aluminum (unwrought)
$7,569,199,000 Trucks $6,591,532,000 Turbo-jets $6,327,506,000
Gold (unwrought) $6,319,637,000 Sawn wood $5,520,759,000
Pay attention kids and learn HOW you're being grifted...
** Your auto parts for the most part are made in Mexico, Canada, China, & Japan, with Mexico being the leading parts maker.
** Aluminum - only 3 bauxite mines even EXIST today in the USA, in AR, AL & GA, and NONE OF THEM contribute to the primary production of aluminum in the USA... none of them. The USA imports ALL of it from other countries.
** Turbo-jets --- You know those Regional Jets like CRJ's that every airline flies in the USA? They were all made in Canada. Mitsubishi bought the company and they're not made anymore, and Boeing doesn't make a regional jet. So, when the current flock of jets ages out, the new ones aren't coming from the US unless they developed new technology
So when you get told "the US is being ripped off" by other countries, it's bullshit. Total, 100% bullshit. Nearly every time you, the consumer, has EVER been ripped off, it's been by an American company; Bank of America, Wells Fargo, a cable company, an airline, etc.
You're being grifted right now, on an unimaginable scale.
m Because he is an unteachable idiot, as his university professors have stated. He has to take everything literally, so he thinks "deficit" equals "bad". Just like he thinks "mental asylum" would mean that mentally ill people would come to the United States for asylum.
It's a bad thing when your consumer market plummets because the pleb is getting poor, your government debt is astronomically high and you oligarchy friends who skimmed the cream from outsourcing economy over decades want more despite they accumulated 99% of wealth. They want more, it's always more and they ensured you won the election. Now when you're were Donald would milk further the poor pleb or starting to take money from your giga wealthy cronies who own evidences about your weakness for teen lolitas?
Cause he's a dumb ass.
If it works out will you give him credit?
@pacificopete of course. But is it working?
I guess that means you will not give him credit.
@pacificopete for crashing the market, no. What needs to occur to give him credit in your eyes?
Are you a ventriloquist?
@pacificopete I just asked a straight forward Q and you're obviously an idiot. Good day.
Are you going to answer for everyone on this site?
@pacificopete It doesn't look like it is working out for him.
Can you explain why?
@pacificopete Just take a look at how things aren't going well.
Things are going quite well.
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How is a poor country like Vietnam going to buy USA goods? They cannot afford $50000 trucks. But being poor they have very low labor costs so they manufacture and sell cheap goods to the USA. Thus the imbalance. The USA consumer benefits from being able to buy cheap goods the USA could never produce at a similar cost. Now lets look at the EU. The trade imbalance exits mostly because Europe has little taste for buying USA products. They lack quality and style. Most USA products are crap. ( Had to be said) Hell American cars do not even fit on most EU roads. To base tariffs on trade imbalances is poor policy.
Exactly and I have a fucking deficit with my hairdresser 😂
If the usa buys a machine tool from the japanese for 100 thousand dollars, they have a deficit with Japan but if this machine tool allows the usa to sell 500 thousand dollars worth of car parts or whatever, then the usa is finally the winner.
Not many gagers on here can remember when you could buy a tv, washing machine, clothes dryer, radio or even a car that was totally made by a US company, in America. Working Americans could afford to raise a family, buy a house and still have a nice home. In my opinion. He is not only trying to level the playing field. But also wants to bring back the companies who left America for cheap slave labor in other countries.
When was the last time that you checked where your pharmaceuticals were produced. Most Covid drugs were produced probably where covid originated! Imagine how many people would be in dire straits if China were to not send life sustaining drugs to the US? After they stole the recipe from the US.
Same way with things no longer produced on US soil!
@OddBeMe. I really don’t think that the intentions of this tariff dispute is to make America self sufficient. Just to level the playing field.
I have heard where countries have enacted import laws. For example toasters, that didn’t have a certain length power cord were banned from import! Unless there are extremely good reasons. Not fair trade in my book.
Actually, Trump is not entirely wrong.
We all have a trade deficit with our local grocery stores, but we have a larger trade surplus with the company we work for - otherwise we'd end up in a lot of debt.
When you're talking about countries, this is called the "balance of payments". It's fine to have trade deficits with some countries (a good thing, even), as long as they are offset by trade surpluses elsewhere, and the overall balance of payments is positive.
In the US, that is definitely not the case, and the negative balance of payments means that there is a net loss of wealth (ie. the country is getting poorer) - and that's just the money that's going to foreign entities. A huge amount of the country's wealth is also being drained by parasitic corporations and super-rich individuals within the US.
Where Trump is mistaken, is in thinking that tariffs are the solution.
What exactly is trade deficit? If I buy 100 apples from you worth 100 total, then you should also buy 100 pears from me worth 100 total?
I don't think that is what he is doing. He is charging for exports to USA from countries which have heavy customs on goods imported from the USA. Some countries have 100% customs on the value of imports from the USA. He is charging those countries who charge American goods.
It was a fucking example you idiot
I got it alright
It's not so much he think it's abad things but it's a tactic to force the foreign enterprise to build factory in America though only time will tell if it'll work or not
The debt is at record levels and the interest alone is more than our military budget. We have a huge trade deficit with China. Someday it will be so big that China will foreclose on the US. Or maybe thy will take a haircut on the trade deficit as a down payment on what they owe us for starting the Covid pandemic.
The thing is, this will hurt small businesses and the working class.
Trump doesn’t care since he isn’t one of us, he is one of the top earners. Lobbyists found their presidential pawn which will bring us economic ruin while they make the biggest gains.
If I had to guess its either because he views it as income vs deficit or that he believes that the trade deficit is entirely decided by the ease of trade or to say it another way, it would be neutral unless one side introduced trade friction to disadvantage the other.
Either way its both a sign of being really stupid and not understanding how trade works.
US debt at 200% to GDP is a historic measuring stick.
Combine that with deficit racking up debt, it's bad.
There's no problem with debt as long as it grows in line with growth.
what I think I know, why odn't you spend some time listing to other well studied people whom are not republicans..
https://www.youtube.com/embed/8u3qQtEJacYWatch 20 videos from Dalio and you tell me. The issue is get to levels that are a problem… have to print $ to pay the debt and rates rise and is a cycle. Plenty of history on debt issues , economic cycles, social cycles … dalio pulls that together into a view. Not the only one… congress decades ago said ‘this big problem… nithing was done. Pelosi complained about china and facored tariffs and withholding chinas most favored nation status in the 90s. To bame a few. You decide. The problem i have is this debt issues had been ignored for a long time as if doesn't exist. Barely find a day biden harris talked about it.
I just can't believe this thinking , the utter destruction this whole exercise has caused..
What does he really think he can achieve?
And who will suffer most? The American people , higher prices , 401k.. billions wiped , International standing..
It's Crazy , makes no sense at all , simplistic , insular. How was this allowed to happen?
Non-american?
He thinks it's a GOOD thing not a bad thing. Why he thinks is is GOOD is because it means Americans will buy American goods and not foreign and hopefully companies with foreign factories will set up in American instead of elsewhere so they can avoid tariffs. Unfortunately this doesn't happen overnight nor in the space of a single term president. It may crash folks savings or investments and make older generations poorer.
Mostly because it is. But there are several reasons:
For the same reason he thinks tariffs " bring in money" as he says again and again, as if the exporters are paying the tariffs, and also why he thinks a trade deficit is the same as a subsidy. He's a fucking idiot.
I don't understand, no one with an economic background, or one that understands history does either. It seems probable, although I can't prove it to be fair, that he's shorting the market.
His rich friends, and an billionaires can swoop in and buy more stocks while they're low and see huge gains when he magically, and he will magically, remove the tariffs, and the market swings up.
I mean the purpose of a trade deficit is often to accept losing tax income as a country for the benefit of the quality of life of its citizens or for the purpose of producing better quality goods.
Thirdly, buying cheaply produced goods that are cheaper to import than to produce yourself can be addressed by tariffs. Yes, it would increase the price, but in the long run, it can create jobs. However, for that, you would need to specify the tariff on specific goods, which Trump specifically did NOT do.
I believe Shel Silverstein described Trump’s economic understanding perfectly in his poem Smart.
The EU, Japan, China, Korea all have tariffs on American goods that favour their own domestic products and industries. Trump is just evening the playing field.
And who is buying up all the shares in the stock market? Don't be conned
Buy low as they say.
that's the idea this is america democrates don't get that
in order to replace china with American products put on a tariff
you can't say that it's unamerican to say
but you fail to understand the American way
Wow your so wrong
Do you have any idea how large, how chronic? And how far-reaching the effects of the trade deficit is?
EVERYTHING is zero sumgame. Win or lose. Plus or minus. Host or parasite. He can't grasp the nuances of reciprocal relationships. It's way beyond this broken man child.
I’m just so glad this lowly advice website has an expert in tariffs willing to share his knowledge. “We have trade deficits with our grocery store”. Brilliant insight.
🤣🤣🤣🤣🤣🤣😁😁🤣😁😁😁
What an insightful reply. I'm sure you've been busy today advising MSNBC on international trade policies.
Sure you’re making money. Gay men still want their dick sucked at a truck stop.
your profile was the first one that popped up.
A loser who supported Biden should not be preaching about “superpower spending”
were the fuck where you in between to 2021 and earlier this year?
do I have to remind you that the loser...
wasted 1.9 trillions on vaccines met to treat a virus that already had a 99.99% survival rate? that only killed more people than the virus itself?
that he printed out money way out of control? what do you think caused the inflation we been suffering from these past 4 years?
that sent 200 Billions to Ukraine?
Just because everyone has it, does not mean that it is a good thing.
But you Yankees fell for the banana in the tailpipe !!!
Because it is... and very bad thing.
It is.
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