WelfareQueen
Diamond Member
‘His trade war has already created something akin to the largest tax hike in post-war U.S. history, according to J.P. Morgan analysis. Even after the rollbacks and pauses, economists at the bank wrote in a briefing to clients that “the trade war shock is still material... we now estimate an effective ex-ante tariff rate of 14.4%. This is akin to a $475bn tax hike on US households and businesses, worth 1.6% of GDP (still sitting close to the largest tax hike in the post WWII period).”
Not only has a massive effective tax hike been put in place, but government spending is dropping, and the U.S. economy shrank 0.3% in the first quarter of the year.
The tariffs against China caused a more than 60% decline in ocean container bookings from China to the U.S. Now that the U.S.’s punitive Chinese tariffs have been largely paused, there’s such a rush to book space on American-bound ships from China that capacity will sell out, leading to a backlog, Flexport’s chief executive Ryan Petersen said earlier this week.’
Does Donald Trump Know He Has Lost His Trade War?
The best case for the American economy would be a swift acknowledgment from the president.www.yahoo.com
Trump doesn’t care that he lost his trade war; he and his Cult members will continue to blindly pursue meritless tariffs ignoring facts and the truth – as usual.
Dims are always wrong.‘His trade war has already created something akin to the largest tax hike in post-war U.S. history, according to J.P. Morgan analysis. Even after the rollbacks and pauses, economists at the bank wrote in a briefing to clients that “the trade war shock is still material... we now estimate an effective ex-ante tariff rate of 14.4%. This is akin to a $475bn tax hike on US households and businesses, worth 1.6% of GDP (still sitting close to the largest tax hike in the post WWII period).”
Not only has a massive effective tax hike been put in place, but government spending is dropping, and the U.S. economy shrank 0.3% in the first quarter of the year.
The tariffs against China caused a more than 60% decline in ocean container bookings from China to the U.S. Now that the U.S.’s punitive Chinese tariffs have been largely paused, there’s such a rush to book space on American-bound ships from China that capacity will sell out, leading to a backlog, Flexport’s chief executive Ryan Petersen said earlier this week.’
Does Donald Trump Know He Has Lost His Trade War?
The best case for the American economy would be a swift acknowledgment from the president.
Trump doesn’t care that he lost his trade war; he and his Cult members will continue to blindly pursue meritless tariffs ignoring facts and the truth – as usual.
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