Thank you Donald Trump ... Fed study: Trump tariffs backfired, caused job losses and higher prices

[Oddball]

The Fed = bagman for the swamp.

What else would you expect them to say?

 

[DGS49]

To those who not economically illiterate, Tariffs ALWAYS result in higher prices. That is the price you pay (literally) in the attempt to level the playing field with a foreign country that is "cheating" on trade.

To illustrate: You purchase a manufactured Widget for $100. It is made in the U.S.A., with Chinese steel that is subsidized by the Chinese government. An import duty is placed on that steel to make the price what it would be without the Chinese government subsidy, which is hopefully a price that allows American steelmakers to compete successfully with the imports. The price of the Widget goes up to $110.

The desired result is that the Widget manufacturer will then opt for domestic steel, and it is hoped that the resulting stimulus to the U.S. steel industry will offset - in some way - the cost of the higher prices.

But in the case of the domestic Steel industry, there was massive un-used domestic steel capacity, which was brought back on line as a result of the temporarily higher prices. As a result, we got a glut of steel in the market and prices plummeted yet again.

Conclusion: Tariff's are always speculative, and always involve trade-offs. But they are worth it to cut down on unfair foreign competition.

 

[kiwiman127]

Denial is a embedded trait of Little Trumpsters, thanks to the fact that psycho-Trump, is the center of their universe, thanks to the shared psychosis that is the result of your hyper-Trump worship obsession

 

[WillowTree]

Denial is a embedded trait of Little Trumpsters, thanks to the fact that psycho-Trump, is the center of their universe, thanks to the shared psychosis that is the result of your hyper-Trump worship obsession

So why didn’t ewe answer my question or are you just chickenshit?

 

[Oddball]

Denial is a embedded trait of Little Trumpsters, thanks to the fact that psycho-Trump, is the center of their universe, thanks to the shared psychosis that is the result of your hyper-Trump worship obsession

Never mind that you're quoting the same Fed that has pumped over $4.5 trillion in money-from-nothing into Wall Street, and has absolutely no idea how they're going to back it out without crashing the economy.

Talk about denial, psychosis, and worship.

 

[kiwiman127]

So maybe other countries are stupid for tariffs hey? Or is it just Trump?

This thread is focused on Trump’s factual failure and the results of his failure.
I noted not one poster could intellectually address the OP, which is the normal for Little Trumpsters.
You have no answers for Trump’s failures but you mindlessly goose-step along in the fog anyway.
The brilliant minds of Little Trumpsters equates a dark and endless tunnel.

 

[Frankeneinstein]

Denial is a embedded trait of Little Trumpsters, thanks to the fact that psycho-Trump, is the center of their universe, thanks to the shared psychosis that is the result of your hyper-Trump worship obsession

lol...nothing seems to be working for ya does it bro?...keep the rants coming, white liberals deserve everything trump can do to make them feel the way you do...carry on

 

[Dragonlady]

USMCA is just a regurgitation of NAFTA

Bwuhahahaha....

Trade wars and negotiation GOOD trade deals from positions of strength instead of weakness are very hard to do. If they were easy Barry would have successfully done it 11 years ago, and Trump would not have been the only President to do so in the last 3+ Presidents to successfully do so.

Obama demonstrated he knew nothing about business, nothing about negotiating from positions of strength, and accepted deals unfair to Americans because he thought, like his father, the US was 'evil' and should sacrifice, suffer, and kneel to the rest of the world.

Trump has demonstrated that he is the worst negotiator ever. He doesn’t “negotiate from a position of strength”. He starts out by trying to bully the other side. When that doesn’t work, he walks out.

Prior trade deals made America the richest country in the world which is what they were intended to do. Reagan thought that if Mexicans could find work in Mexico, they wouldn’t sneak across the border to find work. Reagan didn’t care that much about American workers. Supply side, free market economics ignores the workers.

NAFTA was negotiated and signed by conservatives in Canada and the United States over the objections of the unions which said it was bad for American workers. Reagan didn’t care. It would make money.

Nixon negotiated the first China trade deal. Now Republicans are saying these are bad deals but the deals Trump is negotiating wont bring jobs back to low wage workers.

Trump’s China deal is all about protecting IT and increasing farm exports. There is nothing there for American workers.

Sometimes you just have to let stupid run amok with the mentally ill!

Just in time for Christmas, the negotiated trade deal with China has the potential to be a present under the tree for farmers and small business owners who have taken more than their fair share of harm in the ongoing trade war.

Controversy notwithstanding, the get-tough-with-China approach has had broad support among Republicans, Democrats and the American public. A recent Pew poll shows the share of Americans who have an unfavorable view of China has reached a new high.

Tariffs mean more taxes and less competition, and anyone who thought the trade war would be costless was kidding themselves, even if the most severe effects that many feared have not yet materialized for the U.S. economy. In October, the National Bureau of Economic Research put out an analysis of large multinational retailers which found them mostly bearing the costs of the duties themselves rather than passing costs on to customers. This helps explain why we have not seen the effects of the tariffs in the consumer price index. Meanwhile, unemployment is at 3.6 percent, the lowest since 1969.

Trade deal with China a gift to American workers

You really need to read the articles you link to. There is NOTHING in this article, other than the title, that says the deal is good for American workers.

The paragraphs you quoted, say it will be good for farmers and small business owners. In reading the article, there isn't one positive indication for "workers", regardless of what the title says, and furthermore, the full implications of the agreement won't be felt until the IT provisions are negotiated.

This agreement does NOTHING but put things back to what they were before Trump started the trade war. Two years of pain and bankruptcy for American farmers to end up where they started. Big whoop.

 

[WillowTree]

So maybe other countries are stupid for tariffs hey? Or is it just Trump?

This thread is focused on Trump’s factual failure and the results of his failure.
I noted not one poster could intellectually address the OP, which is the normal for Little Trumpsters.
You have no answers for Trump’s failures but you mindlessly goose-step along in the fog anyway.
The brilliant minds of Little Trumpsters equates a dark and endless tunnel.

Well, Mr. why can’t you answer the fucking question. Want me to re phrase it? If tariffs are bad for America then it must be that they are bad for all countries or you are a donkey’s ass. Now, which is it?

 

[WillowTree]

USMCA is just a regurgitation of NAFTA

Bwuhahahaha....

Trade wars and negotiation GOOD trade deals from positions of strength instead of weakness are very hard to do. If they were easy Barry would have successfully done it 11 years ago, and Trump would not have been the only President to do so in the last 3+ Presidents to successfully do so.

Obama demonstrated he knew nothing about business, nothing about negotiating from positions of strength, and accepted deals unfair to Americans because he thought, like his father, the US was 'evil' and should sacrifice, suffer, and kneel to the rest of the world.

Trump has demonstrated that he is the worst negotiator ever. He doesn’t “negotiate from a position of strength”. He starts out by trying to bully the other side. When that doesn’t work, he walks out.

Prior trade deals made America the richest country in the world which is what they were intended to do. Reagan thought that if Mexicans could find work in Mexico, they wouldn’t sneak across the border to find work. Reagan didn’t care that much about American workers. Supply side, free market economics ignores the workers.

NAFTA was negotiated and signed by conservatives in Canada and the United States over the objections of the unions which said it was bad for American workers. Reagan didn’t care. It would make money.

Nixon negotiated the first China trade deal. Now Republicans are saying these are bad deals but the deals Trump is negotiating wont bring jobs back to low wage workers.

Trump’s China deal is all about protecting IT and increasing farm exports. There is nothing there for American workers.

Sometimes you just have to let stupid run amok with the mentally ill!

Just in time for Christmas, the negotiated trade deal with China has the potential to be a present under the tree for farmers and small business owners who have taken more than their fair share of harm in the ongoing trade war.

Controversy notwithstanding, the get-tough-with-China approach has had broad support among Republicans, Democrats and the American public. A recent Pew poll shows the share of Americans who have an unfavorable view of China has reached a new high.

Tariffs mean more taxes and less competition, and anyone who thought the trade war would be costless was kidding themselves, even if the most severe effects that many feared have not yet materialized for the U.S. economy. In October, the National Bureau of Economic Research put out an analysis of large multinational retailers which found them mostly bearing the costs of the duties themselves rather than passing costs on to customers. This helps explain why we have not seen the effects of the tariffs in the consumer price index. Meanwhile, unemployment is at 3.6 percent, the lowest since 1969.

Trade deal with China a gift to American workers

You really need to read the articles you link to. There is NOTHING in this article, other than the title, that says the deal is good for American workers.

The paragraphs you quoted, say it will be good for farmers and small business owners. In reading the article, there isn't one positive indication for "workers", regardless of what the title says, and furthermore, the full implications of the agreement won't be felt until the IT provisions are negotiated.

This agreement does NOTHING but put things back to what they were before Trump started the trade war. Two years of pain and bankruptcy for American farmers to end up where they started. Big whoop.

Dosen’t Canada charge a 300% tariff on imported dairy? Hypocrite!


Canadian dairy farmers fume that concessions granted US in new trade deal are too costly


Oh boo boo. America has access to 4% of the Canadian market. Boo hoo hoooey!

 

[yidnar]

Donald Trump is a loser running the American economy with decisions based on how his gut feels after a McDonald's supersized meal. Which fuels a simultaneous release of hot air from Trump's mouth and rear end.

Trumpers, are you tired of winning as Federal debt rises at >2 x GDP growth and the stock market rises at >5x GDP growth rate. Both of these economic factors are unsustainable.

Donald Trump is losing the trade war. Farmers have become welfare recipients and manufacturers are likely to join them soon.

The problem with the USA is that the US$ is overvalued and US goods are too expensive for foreigners and conversely foreign goods are cheaper than US manufacturers can produce. The solution is to tax foreign capital entering the USA, not to engage in and lose a trade war.

Donald Trump said trade wars are easy to win, however, he has proved himself wrong. Donald Trump is a loser, a liar, a slanderer, and a Russian mob money recipient.

Fed study: Trump tariffs backfired, caused job losses and higher prices

Fed study: Trump tariffs backfired, caused job losses and higher prices
BY BROOKE SEIPEL - 12/27/19 09:18 PM EST 3,143

President Trump's tariffs on imports — meant to boost the economy — ultimately led to job losses and higher prices, a new study from the Federal Reserve has found.

"We find that tariff increases enacted in 2018 are associated with relative reductions in manufacturing employment and relative increases in producer prices," the report by Fed economists Aaron Flaaen and Justin Pierce reads.

MarketWatch first reported the study, noting that 10 primary industries were hit by retaliatory tariffs and higher prices, including producers of magnetic and optical media, leather goods, aluminum sheet, iron and steel, motor vehicles, household appliances, sawmills, audio and video equipment, pesticide, and computer equipment.

The Trump administration first implemented steel and aluminum tariffs in March of 2018, with the president declaring at the time that "aggressive foreign trade practices" related to the trade goods amounted to an "assault on our country" and the U.S. steel industry.

Since then, Trump has announced new rounds of tariffs on billions of Chinese goods in a retaliatory back-and-forth with the country.

U.S. and Chinese officials say they have neared a preliminary trade deal that would grant China relief from some tariffs in exchange for drastically increasing purchases of American farm exports.

The escalation of the U.S.-China trade war prompted a tumultuous market at some points throughout the year, amid fears of a possible global recession.

In September of this year, U.S. consumers and businesses paid a record $7.1 billion in tariffs. ...

bwaaa haaaaa haaaaa ! the economy is booming !! as far as spending that will be addressed after we vote the socialist out of congress !! Trump spent more to upgrade our military most of the rest was bullshit added in by your party .that will be remedied in 2020 .

 

[miketx]

'backfired'?

1st President to stand up to China, got a better deal than NAFTA, and snowflakes who prefer to be on their knees in front of China bitch and moan again about Trump / America winning...

Bwuhahahaha....

On their knees is their preferred position.

 

[Faun]

tRump aint no loser ! He always wins !
View attachment 297007 View attachment 297008

Impeached Trump sure does like them porn stars.

 

[Denizen]

To those who not economically illiterate, Tariffs ALWAYS result in higher prices. That is the price you pay (literally) in the attempt to level the playing field with a foreign country that is "cheating" on trade.

To illustrate: You purchase a manufactured Widget for $100. It is made in the U.S.A., with Chinese steel that is subsidized by the Chinese government. An import duty is placed on that steel to make the price what it would be without the Chinese government subsidy, which is hopefully a price that allows American steelmakers to compete successfully with the imports. The price of the Widget goes up to $110.

The desired result is that the Widget manufacturer will then opt for domestic steel, and it is hoped that the resulting stimulus to the U.S. steel industry will offset - in some way - the cost of the higher prices.

But in the case of the domestic Steel industry, there was massive un-used domestic steel capacity, which was brought back on line as a result of the temporarily higher prices. As a result, we got a glut of steel in the market and prices plummeted yet again.

Conclusion: Tariff's are always speculative, and always involve trade-offs. But they are worth it to cut down on unfair foreign competition.

The current state of the US steel industry is proof of your argument.

Donald Trump is an idiot and he has aligned the idiots of the US behind him.

US Steel to lay off 1,545 workers as Trump brags he "saved" industry

 

[Vandalshandle]

To those who not economically illiterate, Tariffs ALWAYS result in higher prices. That is the price you pay (literally) in the attempt to level the playing field with a foreign country that is "cheating" on trade.

To illustrate: You purchase a manufactured Widget for $100. It is made in the U.S.A., with Chinese steel that is subsidized by the Chinese government. An import duty is placed on that steel to make the price what it would be without the Chinese government subsidy, which is hopefully a price that allows American steelmakers to compete successfully with the imports. The price of the Widget goes up to $110.

The desired result is that the Widget manufacturer will then opt for domestic steel, and it is hoped that the resulting stimulus to the U.S. steel industry will offset - in some way - the cost of the higher prices.

But in the case of the domestic Steel industry, there was massive un-used domestic steel capacity, which was brought back on line as a result of the temporarily higher prices. As a result, we got a glut of steel in the market and prices plummeted yet again.

Conclusion: Tariff's are always speculative, and always involve trade-offs. But they are worth it to cut down on unfair foreign competition.

The current state of the US steel industry is proof of your argument.

Donald Trump is an idiot and he has aligned the idiots of the US behind him.

US Steel to lay off 1,545 workers as Trump brags he "saved" industry

He also saved the coal industry. The fact that the largest coal company in America just declared bankruptcy has nothing to do with anything. Pay no attention to the man behind the curtain.

 

[whitehall]

You almost gotta laugh. Left wing hypocrite headlines scream "Trump tariffs backfire, cause job losses and higher prices" while the link says "we find that tariff's are associated with relative reductions etc". Meanwhile the DOW is consistently in record territory, consumer confidence is at an all time high, unemployment is at a record low and about 7 million jobs have gone unfilled in 2019.

 

[Indeependent]

What prices have increased?
I do the shopping and nothing except tuna has increased.

 

[Vandalshandle]

You almost gotta laugh. Left wing hypocrite headlines scream "Trump tariffs backfire, cause job losses and higher prices" while the link says "we find that tariff's are associated with relative reductions etc". Meanwhile the DOW is consistently in record territory, consumer confidence is at an all time high, unemployment is at a record low and about 7 million jobs have gone unfilled in 2019.

...and that is the point. Countries establish tariffs to protect local industry and to create jobs. Countries do NOT establish tariffs when there is virtually no unemployment. All they do is raise prices. But, Trump slept through Econ 101 and 102, so here we are.

 

[Indeependent]

You almost gotta laugh. Left wing hypocrite headlines scream "Trump tariffs backfire, cause job losses and higher prices" while the link says "we find that tariff's are associated with relative reductions etc". Meanwhile the DOW is consistently in record territory, consumer confidence is at an all time high, unemployment is at a record low and about 7 million jobs have gone unfilled in 2019.

...and that is the point. Countries establish tariffs to protect local industry and to create jobs. Countries do NOT establish tariffs when there is virtually no unemployment. All they do is raise prices. But, Trump slept through Econ 101 and 102, so here we are.

Isn’t that sweet..
The well to do, retired financial advisor was happy that minorities were making $9.00/hour serving food while he retired a multi-millionaire.
How touching.

 

[Denizen]

You almost gotta laugh. Left wing hypocrite headlines scream "Trump tariffs backfire, cause job losses and higher prices" while the link says "we find that tariff's are associated with relative reductions etc". Meanwhile the DOW is consistently in record territory, consumer confidence is at an all time high, unemployment is at a record low and about 7 million jobs have gone unfilled in 2019.

Federal debt is growing at > 2 x GDP growth. This is not sustainable.

DOW % growth rate is growing at 10x GDP %growth rate. This is not sustainable and is indeed irrational.

An orange cloud of delusion is enveloping the USA.