He’s smiling but i’m hearing both good and bad things such as interest rates might drop which is good or everything about to get expensive in america which is bad lol.
It is bad because he’s celebrating the worst piece of American economics policy in decades.
These tariffs are a tax imposed on an import company which imagine yourself in their shoes, you can either A. Keep prices the same and you pay more to import corporation’s product or B. Raise the price so, you don’t lose money on the tariff imposed on your company by Federal Govt.
Import companies choose the obvious answer of raising the price so, they don’t go bankrupt and in doing so puts a sales tax on corporations and their product they want to import from another nation. Those corporations are then given the same choice to A. Keep prices the same and you pay more or B. Raise the price so, you don’t lose money on the sales tax imposed on your products by the import company.
They choose the obvious choice of raising prices on the consumer, which means you pay more for less quantity of a good as the consumer. Trump’s total tariffs went from $78 billion to $718 billion because he doesn’t understand there will always be a price deficit. ‘I’m at deficit with my baker because I pay him for bread, he doesn’t pay me back’. This is ignorant, if you use logic like this. We had a benefit from Canada with our total $6+ billion of free trade, now our free trade is ending since Canada is no longer buying American products. To add, South Africa mines diamonds though is dirt poor and Trump Admin is offering no tariffs to countries that buy more American goods though because they are too poor, they can’t afford to buy more so the American consumer will pay more for their diamonds. This goes for Mangoes (since you can’t grow Mangoes here), Coffee (since 90% coffee comes from outside Hawaii), and so on. This is an economic disaster.
Important to consider : You can’t just say “what about make them in America?”, not as easy as it sounds since the building blocks of said item’s production come from other countries so, the rise in price is inevitable this way. Cocoa goes into chocolate, Coffee Beans need to be pressed to make coffee at a barista stand, spices that go into specific foods that come from around the world goes up in price too, etc.
I think it is in the best interests of the United States to have equal tariffs or no tariffs but also equal regulations and restrictions on all products. The other hand there is a valid argument for Mercantilism. China is doing that now and we did it for most of our history.
I think he's stirring the pot to see what shit forms out of the mess he is making. So much for doing away with income tax for the poor and more taxes for the Billionaires. But then that would include him and Musk. I mean he can't have that, right?
Economics - pre 101 - not even BASIC !! --- *The USA relies heavily on imported goods made cheaply in low-cost labor countries. Some of these companies are American, some not, but there are nowhere NEAR enough American companies making products elsewhere to satisfy consumer needs & wants in the USA. * So, when imports dry up due to tariffs, the ones that make it through WILL cost the consumer more. The exporter doesn't pay the tariff... the importer does, and they pass it on to us. * There is no way in HELL the USA could re-open or build new factories and pay for the cost of importing RAW materials AND increased labor costs in the states to provide these goods. Forget what they say about " bearing with them". It's not going to happen unless chattel slavery is brought back, which they're trying to do by using prisoners in some cases.
It depends on what the product is. If it is in direct competition with a product made in USA people will buy the USA made product unless the foreign made manufacturer absorbs the tariff. This is one of the things that tariffs will accomplish, it will bring manufacturing back to the US. It will also allow American companies to sell to new markets.
This is a very accurate response dear anon questioner... any other analysis is delusional. It really is Economics 101. Trump and his sycophants are using Ideology 101 for this policy.
@exitseven " This is one of the things that tariffs will accomplish, it will bring manufacturing back to the US."
This shows how little you understand about manufacturing and the current global market, not to mention what has occurred historically when tariffs were implemented. You maintain this position because your fuhrer tells you it's so, NOT because you have a single lick of knowledge or information, even though it's readily available to you. * smh* You and every other magat.
This will not happen overnight. Our politicians have sold American workers down the river. Entire industries were move overseas and out politicians either were too stupid or too compromised to do anything about it. When Ross Perot was running for president he said that if NAFTA was approved we would hear a sucking sound of millions of jobs being sent to Mexico. He was not wrong. President Trump wants to bring these jobs back. Democrats say it can't be done but they also said thst the border could not be closed without congressional action. He closed the border in two weeks after he took office. This will take longer but it can be done.
@exitseven Like I said, you have absolutely ZERO understanding of global economics and the supply chain at this point in time.
TRUMP was the guy who changed a few words here and there in Obama's treaties with Mexico and Canada and called it "the greatest trade agreement every" - the new Nafta. Yeah, your boy.
Politicians didn't sell jobs down the river -- American companies CHOSE to produce outside of America and politicians were paid to approve the tax benefits and laws that allowed it. Duh. American companies had to find cheap ass labor to compete in the marketplace with Japan, China, India, and the rest of Asia.
What in the fuck's name makes you think they would come back, build new factories and import all the necessary raw materials and pay American wages? On what planet does that happen, where corporations get together and say "Let's move back to the USA and make no profits because Cheetoh head imposes tariffs?
You likely think the typewriter could make a comeback too if your fuhrer demanded it. You already think he can control gas prices or the oil industry. Guess what - the deal he's trying to make with the UK to buy our LNG is doing the same thing - he's selling out Americans who will have to pay more by the time next fall and winter come around. But again, you have no understanding of global markets, do you?
Get this through your head; the USA will NEVER be able to compete with slave, sweatshop or cheap labor overseas when it comes to producing goods, EVEN if they use the entire prison system as slave labor.
Trump is once again, feeding you bullshit and you're eating it up like a treat.
@loveslongnails why do tariffs work for China and most other foreign countries which close their markets to American products and they will not work in America?
@exitseven LOL Did someone on Fox tell you that China and "most other foreign countries" have closed markets to US products? Did some idiot on Newsmax ask " how come you don't see a lot of Ram or Ford 150's in the UK or the EU", and you thought they were trade restricted? LOL Hmmm, maybe it's because American cars and trucks don't meet the EU and UK emissions standards, for one thing. And maybe it's because there are DOZENS of auto makers in Europe who make great trucks for less money, and have a part network readily available? But I digress.
First of all, Chinese markets are not closed to American products, or at least they WERE NOT until Cheetoh head went crazy. China WAS the largest importer of US soy beans, beef and other row crops, and there were NO tariffs on that. But when schmuck decided to tariff those items, China went elsewhere to buy them - Mexico for crops, South America and New Zealand for beef, and Canada for oil.
The Chinese government does not tariff goods it deems essential for the growth of their industries or their economy. What they DO tariff is a low 10% baseline, and as of today, Canada and Mexico are exempt from those taxes because, as I said, China deems their products to be essential to their economy and people. Not only that, but China can manufacture damn near ANYTHING they need or want when they decide to do because they need it; the US doesn't do that unless there's a significant profit to be made.
Which other foreign countries had previously closed their markets to the US? Hmmm? Where in the WORLD were there embargos against US imports? I know you can't Google, so I'll tell you: Cuba, Sudan, Burma (Myanmar), North Korea, and Iran. That's it. A great big "so what?"
You know, you might gain a little self-respect, and respect from others outside your cult, if you had real information, analyzed it, thought about it, and ADMITTED your fuhrer was wrong... at least about SOMETHING! But you don't seem to be able or willing to do that.
There is a container ship larger than 3 football fields. It goes between China and the Port of LA. It comes into LA so loaded down with cheaply made goods from China that it is almost sinking. It goes back to China almost empty. We all should find something wrong with that.
@exitseven WTF are you talking about? Nothing comes from China that the American public has not demanded for a lesser price. Now, those ships aren't even coming.
If you want Americans to pay $15.00 for one T-shirt made in America, you damn well better figure out how to NOT make it cost 2 hours worth of minimum wage work. The GOP has made it abundantly clear there's NO WAY they support raising that Federal minimum wage. Instead, they support allow 14 years to go back to work on school days.
Seven, all your responses completely evade or avoid the heart of the issues. Just stop. You really don't know "facts", you just repeat what you're told without doing an ounce of competent research.
nobody demanded lower prices. Our politicians created the hollowing out of the middle class either by stupidity or they were compromised. Before China was given favored status the US was doing just fine.
Stop buying cheap crap from China. There needs to be a transition where we stop relying on this stuff from other countries. The cheaper the goods the lower paying jobs americans have to choose from.
It's fantastic. Everyone will see in 1 year or less. A 3 billion dollar construction job in my town of Houston already started because of these tariffs.
Importers pay the tariffs. That means Americans. Absolutely everything is about to get preposterously expensive. American farmers especially are about to get fucked with their export markets cut off at the knees by that stupid orange lunatic.
If you think that this hot&cold policy will get companies to invest into USA then you are mistaken. A factory would barely get finished before Trump's term comes to a end.
@Pohjolan The companies have already committed billions/ New companies are signing on every day. I heard today that Volkswagen will be building a plant This is not a hot and cold policy. It is a binary decision. You manufacture in the US and you pay no tariffs. President Trump is making it simple.
Trump doesn't understand trade deficits or the point of tarrifs. Tarrifs are made to encourage domestic buying. However, if you don't have domestic production, you can't encourage domestic buying.
@ProbablyClueless We don't produce much. If we don't make the raw materials, we import. Putting tartifs on those judges names it more expensive for consumers.
No one will invest until after Trump's gone. Too much instability n chaos. They'll "commit" to it in a press release and Trump will declare victory no matter what happens.
@DrPepper12 that's because others have learned that they can get Trump to agree to whatever they wqnt as long as he's allowed to say publicly that he won.
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