What a stupid op-Ed…don’t make deals because a pandemic might happen? Haha
The people who remember the trump economy fondly apparently aren't farmers.
- Thread starter berg80
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whitehall
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Kind of strange but typical that Forbes blames Trump and not China more than three years after Trump left office. Where the hell is old Joe anyway?
jc456
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I look for factual information. That isn't in your bucket list though.
jc456
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well trump wasn't president. So the failure is creepy's and scamala's right?
LAUGHatLEFTISTS
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Facts are not assertions.
tyroneweaver
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How many acres do you FarmAmid Trump Tariffs, Farm Bankruptcies And Suicides Rise
Farmers are pretty much under stress all the time since many factors that affect their livelihood are outside of their control. However, over the past few years the combination of lower prices, rain that has created havoc with their ability to plant and finally China freezing the imports of U.S. grown crops due to President Trump’s tariffs has unfortunately created almost the perfect storm against them.
Corn and soybeans are the largest cash crops grown in the U.S. per NASS, the U.S. Department of Agriculture’s National Agricultural Statistics Service. In 2018 the value of corn was $51.5 billion, with soybeans second at $39 billion. The next largest crop was hay, a distant third at $17 billion. For comparison the value of apples grown in the U.S. was about $4 billion and oranges was $2 billion.
Amid Trump Tariffs, Farm Bankruptcies And Suicides Rise
Farmers have seen their incomes slashed due to factors outside of their control. However, tariffs imposed by Trump and China’s retaliation are making their situation even direr. This has led to a rise in farm bankruptcies and multiple people warning about the increased stress leading to suicides.www.forbes.com
92 Percent of Trump’s China Tariff Proceeds Has Gone to Bail Out Angry Farmers
“China” is “paying billions and billions of dollars” on U.S. tariffs, President Trump said in his debate with Joe Biden on October 22. “And you know who got the money? Our farmers. Our great farmers.”
He is half right.
Since 2018, the president has repeatedly insisted that China pays the tariffs he has imposed on Chinese imports. This claim is false—the tariffs are paid entirely by U.S. importers. His advisers, such as Peter Navarro, knowing the claim is false, have tried to defend him, and the tariffs, by arguing that China pays the tariffs indirectly, through currency depreciation and lowering export prices. These arguments are also false, as well as illogical—since the advisers also claim that such Chinese behavior benefits China and hurts the United States.
The president’s statements do, however, check out on his other point. American farmers have indeed laid claim to nearly all his China tariff revenue, which now totals $66 billion.
In 2018 and ’19, Trump authorized payments to U.S. farmers of $28 billion to offset their losses from Chinese trade retaliation. This year, with farmers struggling under the twin crises of the trade war and the pandemic, bailouts have soared way higher. Trump promised angry farmers another $19 billion in April and $14 billion in September—bringing his bailouts to a grand total of $61 billion. He has pledged to continue these bailouts until the trade war ends.
Farmers flourish under Biden, see recovery from Trump-era trade wars
WASHINGTON — Donald Trump often espoused his love for America's farmers during his presidency.
But after a year under President Joe Biden, farmers say they're actually feeling the love.
"Well, certainly the difference between 2019 and 2021 is the differences in administrations," Montana Farmers Union President Walter Schweitzer said in an interview. "In 2019, our administration was at war with all of our customers." Under Biden, he said, the nation is "rebuilding our relationships with our customers."
Orange jeeeesus went to Wharton but apparently didn't learn a thing about business in the real world. Why should he have since he knew he would end up inheriting a fortune?
trump's disastrous tariff policies, ones he wants to double down on if he is re-elected, have been flushed down the MAGA memory hole of the fawning fans he counts as his base. A hole with a limitless capacity for forgetting Don's many failures, scandals, general buffoonery, lies, and of course his role in the attempted insurrection. Which ended up being yet another failure.
How many R series John deere treactors do you own
I know, why don't you give us the median price of a S series combine
And how much of a price increase biden ;has caused
Then ask yourself, who was the worst president on rate of return.
China decided to ditch US soybean farmers and buy from Brazil.
berg80
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No, Trump-Style Tariffs Do Not Grow the Economy
In recent years, there has been a resurgence of the idea that protective tariffs can restore America's economic greatness, based on the interpretation that they fueled our growth in the 19th century and can do so again in the 21st century. This claim isn't just wrong; it's dangerous.
Take recent comments by the conservative pundit Oren Cass, who said "the way America went from colonial backwater to this globe-spanning industrial colossus was not free markets and free trade. It was aggressive protection of our domestic market." Former President Donald Trump echoes similar ideas in his many pronouncements about why, if he's reelected, tariffs will be a big and important tool to revitalize America's economy.
At a superficial level, it's easy to see how someone could think tariffs promote domestic growth. As the Cato Institute's Scott Lincicome rightly notes, "the issue [is] a classic case of correlation versus causation: Because tariffs were high during a period of rapid American growth and industrialization, so the argument goes, the former caused the latter."
Yet correlation isn't causation. Tariffs weren't the cause of American prosperity. Not even close.
No, Trump-style tariffs do not grow the economy
The idea that protective tariffs can restore America's economic greatness isn't just wrong, it's dangerous.
reason.com
The same way trump's policies didn't cause US prosperity............Yet correlation isn't causation. Tariffs weren't the cause of American prosperity. Not even close.
g5000
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I kept waiting and waiting and waiting for Trump's promised 4 to 6 percent GDP growth.
Despite his artificially juicing the GDP with $8 trillion of debt, we never got there.
Oil production was lower than now.
Employment was lower than now.
And to top it all off, he killed a million Americans with his incompetence and profound stupidity when confronted with a crisis.
Not to mention losing the House, the Senate, and the White House for the first time since Hoover, who was also a failing businessman president.
Despite his artificially juicing the GDP with $8 trillion of debt, we never got there.
Oil production was lower than now.
Employment was lower than now.
And to top it all off, he killed a million Americans with his incompetence and profound stupidity when confronted with a crisis.
Not to mention losing the House, the Senate, and the White House for the first time since Hoover, who was also a failing businessman president.
berg80
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Farmers flourish under Biden, see recovery from Trump-era trade wars
The prices of corn and soybeans have increased and demand is up for American exports.
www.nbcnews.com
jc456
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who said they would, it would bring jobs back and give citizens jobs. And that is good for our country!!!No, Trump-Style Tariffs Do Not Grow the Economy
In recent years, there has been a resurgence of the idea that protective tariffs can restore America's economic greatness, based on the interpretation that they fueled our growth in the 19th century and can do so again in the 21st century. This claim isn't just wrong; it's dangerous.
Take recent comments by the conservative pundit Oren Cass, who said "the way America went from colonial backwater to this globe-spanning industrial colossus was not free markets and free trade. It was aggressive protection of our domestic market." Former President Donald Trump echoes similar ideas in his many pronouncements about why, if he's reelected, tariffs will be a big and important tool to revitalize America's economy.
At a superficial level, it's easy to see how someone could think tariffs promote domestic growth. As the Cato Institute's Scott Lincicome rightly notes, "the issue [is] a classic case of correlation versus causation: Because tariffs were high during a period of rapid American growth and industrialization, so the argument goes, the former caused the latter."
Yet correlation isn't causation. Tariffs weren't the cause of American prosperity. Not even close.
No, Trump-style tariffs do not grow the economy
The idea that protective tariffs can restore America's economic greatness isn't just wrong, it's dangerous.
The same way trump's policies didn't cause US prosperity............Yet correlation isn't causation. Tariffs weren't the cause of American prosperity. Not even close.
Are you for other countries over the US?
jc456
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how did he lose? Are tariffs still active during creepy and scamala? yes. and, those were Trump's. So even those two losers knew not to touch them.
g5000
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We have lower unemployment and more jobs now than under Trump.
Interest rates were low since the early 90s. Trump had nothing to do with it.
Then he bungled the pandemic and flooded the economy with stimulus money, demanding more than even the Democrats wanted.
Couple that with the surge in demand after the pandemic and the Fed holding interest rates too low for too long, and we got inflation.
Presidents never really have anything to do with the inflation rate, but flooding the economy with stimulus money, which was a bipartisan effort, and a sudden demand shock was certainly a big factor.
I mostly blame the Fed, though, for reacting way too slowly.
berg80
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Researcher details findings on policy that failed to boost U.S. employment even as it scored political points
Promising to reduce a longstanding trade deficit with China, curb theft of U.S. intellectual property, and reclaim manufacturing jobs, then-President Donald Trump announced new tariffs on a wide range of Chinese imports in January 2018.By at least one key set of measures, the move was a failure.
After tariffs on Chinese goods jumped from 3 percent to 12 percent, Beijing retaliated by raising tariffs as high as 25 percent on many U.S. goods, including agricultural products and food, devastating U.S. farmers, particularly in the Midwest and Deep South. The USDA estimates that the retaliatory tariffs cost the U.S. $25.7 billion in revenues between 2018 and 2019, 95 percent of the total lost to tariffs imposed by European nations and Canada.
Trump’s actions failed to produce more jobs, and in some instances even had a negative effect on employment, according to a new working paper published in the National Bureau of Economic Research.
But the move was successful in one area: winning over voters to Trump and the Republican Party.
Larger lesson about tariffs in a move that helped Trump, but not the country — Harvard Gazette
Researcher details findings on policy that failed to boost U.S. employment even as it scored political points.
news.harvard.edu
But the move was successful in one area: winning over voters to Trump and the Republican Party. Because...........stupid.
jc456
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How did that hurt the US? The US didn't pay a dime. NO tax money was ever used by our government. It's obvious you have nothing whatsoever to know about tariffs. Stop humiliating yourself.
you are.
g5000
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Precisely.
Trump created the largest trade deficits with China and Mexico in history.
He's an idiot.
Biden's just as big an idiot for keeping Trump's tariffs in place.
Congress used to be the body which determined tariffs, but they have surrendered so much of their power to the Executive I don't know why they even bother coming into the office any more.
g5000
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Wow. Such ignorance.
Tariffs are paid by IMPORTERS.
Americans pay the tariffs.
And they pass that cost onto their consumers.
So the next time you find yourself whining about rising prices, remember that.
berg80
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Trump’s actions failed to produce more jobs, and in some instances even had a negative effect on employment, according to a new working paper published in the National Bureau of Economic Research. But the move was successful in one area: winning over voters to Trump and the Republican Party.
Why do you folks want to vote for the guy who hurt America?
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