That's why I said it depends on the size of tariff and the amount of goods impacted. A tariff on cars? No. A tariff on all goods from your largest trading partners? It depends on how long the tariffs remains
That's not true. You are also ignoring the supply side of things. Increase in cost can also cause inflation
By far our biggest trade deficit is with China. Even with how dumb these tarrifs are, he still only put 10% on China and put 25% on our neighbors and allies. It's like doubling down on stupidity.
Trump is on to something here. The surest way to lower prices is to cause a severe recession. We may have low egg and gas prices after all. Like we did the last time he had double digit unemployment.
Fun to see the Trumpers rationalize this. But then again, they rationalize his felony conviction, inciting a riot and committing sexual assault. Let's see what real people say.... "All CEOs are bewildered by these non-strategic tariff tantrums being directed at our closest allies instead of adversaries," said Jeffrey Sonnenfeld, professor at Yale School of Management in New Haven, Conn. "North American companies brace for fallout from Trump tariffs" https://www.investing.com/news/stoc...-brace-for-fallout-from-trump-tariffs-3844070
Wall Street Journal continues its friendly fire attack on Trump. The Dumbest Trade War in History “President Trump will fire his first tariff salvo on Saturday against those notorious American adversaries . . . Mexico and Canada. They’ll get hit with a 25% border tax, while China, a real adversary, will endure 10%. This reminds us of the old Bernard Lewis joke that it’s risky to be America’s enemy but it can be fatal to be its friend. Leaving China aside, Mr. Trump’s justification for this economic assault on the neighbors makes no sense. White House press secretary Karoline Leavitt says they’ve “enabled illegal drugs to pour into America.” But drugs have flowed into the U.S. for decades, and will continue to do so as long as Americans keep using them. Neither country can stop it… Mr. Trump sometimes sounds as if the U.S. shouldn’t import anything at all, that America can be a perfectly closed economy making everything at home. This is called autarky, and it isn’t the world we live in, or one that we should want to live in, as Mr. Trump may soon find out… None of this is supposed to happen under the U.S.-Mexico-Canada trade agreement that Mr. Trump negotiated and signed in his first term. The U.S. willingness to ignore its treaty obligations, even with friends, won’t make other countries eager to do deals..”
Trumps about to get his ass handed to him. America isn’t in the mood for another round of inflation and this will easily point back his dumb ideas.
Red states in particular. Canada, unlike Trump actually has a plan and strategy for things. Notably targeting red states. https://archive.is/a039F
I appreciate your posts explaining your position about tariffs without dumping on Trump. Plenty of space and time to go after Trump. I actually am curious what the goal is and how these tariffs might impact America.
I'd love to hear why he signed a deal with Mexico and Canada during his last term that would allow the ripoff to continue
Elon and Trump, a couple of billionaires telling middle class America to suck it up and enjoy your government induced pain.
I believe you will when the fentanyl is hindered from crossing our borders, and the death rate goes down considerably. We can track those deaths and attribute the decrease to a safe border. Within the executive order: […] (h) For avoidance of doubt, duty-free de minimis treatment under 19 U.S.C. 1321 shall not be available for the articles described in subsection (a) and subsection (b) of this section. {link} So Canada is getting 25%, Mexico 25%, but China only 10%? Last year, the U.S. was on track to receive a billion packages through the de minimis loophole. This is another area in which the drugs are slipping in the country. I'm excited that all the cheap TEMU crap will now be taxed. The External Revenue Service will protect small businesses from cheap Chinese counterfeits, drugs, and chemicals to make the drugs. The media is in such a hysterical frenzy that they don't have the capacity to understand this.
I am sure that was supposed to make some sense but “old man docs that I’m doing pretty damn good” suggests the opposite.
Regressive tax implemented to fund further tax cuts for the wealthy, all under the guise of reducing fentanyl into the US, which had already been reduced. For those wondering why Biden kept tariffs, did you really think he could raise income taxes instead? https://www.npr.org/2024/09/30/nx-s...btmps-drug-cartel-xylazine-tranq-mexico-china
It's been fun to see the uneducated embrace right-wing use of the term "globalist." I wonder if they think about the prices of their iPhones or 52" flatscreens. Nah.
What exactly is the goal here? We are at full employment and full participation rates for core working age adults. So here are the potential outcomes: 1. The global economic system returns to exactly as it was before and US consumers pay a higher rate. 2. You bring more manufacturing to the US, requiring more labor and leading to much higher immigration rates to fill labor. Prices increase. So we have a declining individual standard of living but a growing population fueled exclusively by more immigrants. 3. US consumers stop buying products and are made worse off. Companies make less profit and we have a recession Which of those is your preferred outcome? Because those are the three potential outcomes here.
