Any economist worth his salt knows that tariffs are inflationary and that it hurts the working man/woman the hardest because, as in the case of china, cheap goods that the working folks count on will rise in price across the board. Just as the Tax giveaway to himself will be borne by the poor and working class through cuts to the programs they depend on to keep their heads above water. It's already well underway with cuts to food stamps, propose soc sec cuts, medicare/medicaid and expansion etc. Those who thought the tax bill would be helpful are in for a rude awakening.
These are the same idiots that supported NAFTA as well as exporting job to China as well. These economists do not understand that what is good for Wall Street...isn’t always good for Main Street.
I love how every right wing idiot, who hasn’t the vaguest clue of how the economy works are now all rah rah rah for tariffs. Sadly, your idiot Oresident isn’t any better informed than you are.
Globalism and free trade made America the richest country in the world. If your trading partners are screwing you over, they’re doing a really poor job of it.
The World Trade Organization, which Trump decries as “unfair” was established and set up by the USA in accordance with American trade policies. I doubt Trump knows that either since he doesn’t read anything and has no idea of history at all.
Tariffs are taxes that are passed on to consumers. The tariffs you’re cheering are going to raise prices on American made cars, motorcycles, canned goods, household appliances and tools - anything containing steel or aluminum.
They’ll raise prices paid by American consumers on clothing, electronics, and household goods manufactured in China.
Trump could have run a “Buy American” campaign, with ads touting the benefits of buying products made at home, keeping their dollars at home and providing employment to their neighbours.
Last but not least, by slapping tariffs on certain products, and not others, Trump is picking winners and losers in the economy. Trump is trying to kick start jobs in the steel industry by slapping tariffs on steel and aluminum,
It is estimated that 30,000 jobs will be created in the steel industry. This would be wonderful news if those 30,000 steel production jobs didn’t come at the expense of 150,000 jobs lost in manufacturing due to the higher steel and aluminum costs. Harley Davidson is the first big exporter to be forced offshore by Trump’s tariffs but they won’t be the last.
Trump’s economic plan seems to be trying to move the USA backwards, not ahead. He’s trying to force consumers to buy electricity from coal fired electrical plants. It’s more expensive than power derived from natural gas fired plants, and increases pollution.
Wouldn’t it make more sense to retrain coal miners to do some of the 6 million jobs that remain unfilled because US workers lack the skills to do them?
