And BTW, ALL the money from the Chinese import Tariffs comes from American companies who pass then on to the American taxpayers. So that is just money taken from US consumers and given to the government...so it's no windfall.
NOT IN THE SLIGHTEST.
Tariffs are just a tax.
If Trump's tariffs are raising prices, then how come inflation is below the Fed's 2% target?
I said absolutely nothing about inflation...
You claimed that Consumers were paying higher prices as the result of Trump's tariffs, yet the data doesn't support that. Yes, the tariffs are being paid, we confirmed that with the near doubling of tariff revenue to the US treasury, but, your claim that US consumers are paying them is falsified by Consumer price growth that lags even the Fed's target of 2%.
...My point was strictly that you made the point that America would get a windfall (in essence) from the tariffs....
My point was that closing the trade gap would increase US GDP and that is irrefutable. The goal isn't tariffs, the goal is trade balance. China tariffs everything from us, they will either reduce barriers to using our goods or we will increase barriers to using theirs.
...And my point was that there is no windfall as the tariff money is merely taking income out of American consumer's hands and giving it to the government...
Except that Consumers aren't seeing unusual price increases, in fact, we are seeing below usual price increases.
...Though - for some bizarre reason - Trump cannot seem to get it through his head that the tariffs do NOT come from China....
I always suspected that China would try to compress their margins in order to maintain their market share and avoid the behavior change of giving us the access to their markets that we have been granting them to ours for multiple decades, and so far that is pretty much what they have done.
How come the anti-Trumpers keep claiming this and he keeps turning out to be right?
I said nothing about consumers paying higher prices yet...jeez...give the tariffs time to work through the system. They just went full on last Friday.
I was talking about they will have to pay the tariffs...import tariffs are taxes.
And no...Trump does not keep ending up being right. And he is 100% wrong when he keeps saying that China will pay the tariffs. A first year business student knows that.
He said Mexico would pay for the wall...wrong.
He dementedly believes that China is paying for their import tariffs - 100% wrong.
He said he would pull all US troops out of Syria - wrong.
He said he would pull troops out of Afghanistan...he put MORE in...wrong.
He said NK would end their nuclear program...wrong.
He said the U-3 rate was a hoax (he was right about that - but then he made a complete about face about the U-3 once he was in office).
He rightly called the economy a 'big, fat ugly bubble' and that the Fed were doing wrong. Then, when he got into office, he did a complete 180- and embraced everything the Fed did and asked them to do more...wrong.
He said he would easily get a trade deal with China...wrong.
He said he would lower the trade deficit...he has raised it...wrong.
He said GDP growth would be 4 or 5%...His first two years it was 2.55%...wrong.
He said this is one of the greatest economies ever...LOLOLOL...it ain't even close to that...wrong.
He said - 3 TIMES - that his father was born in Germany...wrong. That's not policy related...that just shows he is losing his mind.
And on and on.