Where's the evidence Trump's tariffs are hurting the economy?

[The Purge]

The public continues to hear or read that President Trump's trade policies are hurting the U.S. economy and destroying our relationship with the world and hurting the U.S. consumer. They say the tariffs are especially harmful and causing price increases. I am having trouble finding factual data that support those talking points. Why do we see general statements in the media instead of the actual data?



Here are some of the data:

In 2016, the last year of President Obama, exports were $1.45 trillion, and imports were $2.19 trillion.



In 2017, the first year of President Trump, exports were $1.55 trillion (up around 7%), and imports were $2.4 trillion (up around 10%).



In 2018, exports were $1.67 trillion (up around 8%, or up 15% over 2016). Imports were $2.54 trillion (up around 6%, up 16% over 2016).



In 2019, the first six months show around an $8-billion decrease in exports, or down less than 1%, and imports are up around $3 billion, or up less than 0.25%.



On August 14, the Bureau of Labor Statistics showed that from July 2018 to July 2019, import prices were down 1.8%, and export prices were down 0.9%



So which economic statistic shows that Trump's policies have hurt our relationship with trading partners around the world? Which statistics show that the U.S. consumer has been hurt? Think how much Trump's energy policies have helped the U.S. consumer.



The truth is, the U.S. economy is doing much better than most of the world and much better than projected precisely because of Trump's tax and regulatory policies. Trump is right that China and other countries have gotten away with murder on trade for decades, and Trump is dealing with it after previous presidents and Congress looked the other way.




(Excerpt) Read more at americanthinker.com ..

The United States is and always has been self sufficient, not needing anything from the rest of the world to grow and survive.

The WORLD needs the USA, WE DON”T NEED THEM!!!

 

[emilynghiem]

Dear The Purge
Remember when pro-Obamacare supporters ignored any and all complaints of people losing their health insurance and/or not being able to afford either the premiums or the deductibles?

Well with the tariffs there have been businesses like farmers directly affected.
There was a whole issue over farmers not able to plant their crops on time
because it depended on which crops were going to be affected and when.

Overall, it is generally agreed the tactics (and temporary sacrifice and imposition on certain industries) are more effective and successful than not, in order to pressure China to change the tariff policy to quit putting a disproportionate burden on the US due to its stronger economic position compared with other countries.

But the areas where I've heard valid complaints coming from
are with the actual companies especially farmers affected in the meantime.

This is being neglected in the media, similar to ignoring reports of the damage and hazards caused to land owners by fracking destroying natural water sources. And the refusal to account for all the people and companies that lost health insurance policies and provisions due to changes through Obamacare that were used for political pressure on health care reform at the expense of actual people affected who were supposed to be helped.

There are adverse effects on people. In the case of Obamacare this was unnecessary destruction of benefits and services, where the help that went to certain populations arguably could have been provided another way instead of imposing mandates that cost many more people. In the case of the Tariffs causing temporary disruptions to businesses, this is not something that could be done a different way. Because it involves foreign relations and putting economic pressure on China to change its policies, not internal policies that can be changed voluntarily among US leaders that could have worked out better reforms directly among our own institutions as with health care reforms. The cooperative health care plans that reform pricing and delivery of services prove that health care reform can be done more efficiently without govt mandates. But the pressure to force change with Chinese trade policies have to be done through federal govt, so that's the difference.

Even though in both cases, yes, there have been adverse and opposite effects imposed on the people and businesses while these political tactics are used to compel change in the system.

The public continues to hear or read that President Trump's trade policies are hurting the U.S. economy and destroying our relationship with the world and hurting the U.S. consumer. They say the tariffs are especially harmful and causing price increases. I am having trouble finding factual data that support those talking points. Why do we see general statements in the media instead of the actual data?



Here are some of the data:

In 2016, the last year of President Obama, exports were $1.45 trillion, and imports were $2.19 trillion.



In 2017, the first year of President Trump, exports were $1.55 trillion (up around 7%), and imports were $2.4 trillion (up around 10%).



In 2018, exports were $1.67 trillion (up around 8%, or up 15% over 2016). Imports were $2.54 trillion (up around 6%, up 16% over 2016).



In 2019, the first six months show around an $8-billion decrease in exports, or down less than 1%, and imports are up around $3 billion, or up less than 0.25%.



On August 14, the Bureau of Labor Statistics showed that from July 2018 to July 2019, import prices were down 1.8%, and export prices were down 0.9%



So which economic statistic shows that Trump's policies have hurt our relationship with trading partners around the world? Which statistics show that the U.S. consumer has been hurt? Think how much Trump's energy policies have helped the U.S. consumer.



The truth is, the U.S. economy is doing much better than most of the world and much better than projected precisely because of Trump's tax and regulatory policies. Trump is right that China and other countries have gotten away with murder on trade for decades, and Trump is dealing with it after previous presidents and Congress looked the other way.




(Excerpt) Read more at americanthinker.com ..

The United States is and always has been self sufficient, not needing anything from the rest of the world to grow and survive.

The WORLD needs the USA, WE DON”T NEED THEM!!!

 

[Third Party]

The public continues to hear or read that President Trump's trade policies are hurting the U.S. economy and destroying our relationship with the world and hurting the U.S. consumer. They say the tariffs are especially harmful and causing price increases. I am having trouble finding factual data that support those talking points. Why do we see general statements in the media instead of the actual data?



Here are some of the data:

In 2016, the last year of President Obama, exports were $1.45 trillion, and imports were $2.19 trillion.



In 2017, the first year of President Trump, exports were $1.55 trillion (up around 7%), and imports were $2.4 trillion (up around 10%).



In 2018, exports were $1.67 trillion (up around 8%, or up 15% over 2016). Imports were $2.54 trillion (up around 6%, up 16% over 2016).



In 2019, the first six months show around an $8-billion decrease in exports, or down less than 1%, and imports are up around $3 billion, or up less than 0.25%.



On August 14, the Bureau of Labor Statistics showed that from July 2018 to July 2019, import prices were down 1.8%, and export prices were down 0.9%



So which economic statistic shows that Trump's policies have hurt our relationship with trading partners around the world? Which statistics show that the U.S. consumer has been hurt? Think how much Trump's energy policies have helped the U.S. consumer.



The truth is, the U.S. economy is doing much better than most of the world and much better than projected precisely because of Trump's tax and regulatory policies. Trump is right that China and other countries have gotten away with murder on trade for decades, and Trump is dealing with it after previous presidents and Congress looked the other way.




(Excerpt) Read more at americanthinker.com ..

The United States is and always has been self sufficient, not needing anything from the rest of the world to grow and survive.

The WORLD needs the USA, WE DON”T NEED THEM!!!

Thank God we have CNN and MSNBC to tell us how much trouble we are in. I can't seem to find any on my own.

 

[Jomama]

I see harm everywhere. The industrial sector is weak overall but the US consumer (70% of our economy) is holding up the economy with spending. Infrastructure is doing well but fueled by a $1 Trillion annual deficit. Auto is way down this year, industrial paper prices have fallen sharply (45% decline of spot price in Asia, middle-east and Mexico this year alone), copper is down and softening, steel is down and softening.

China has serious problems (I know, Haha) which is impacting the rest of Asia along with resource/ag heavy nations like Australia, Canada, Argentina, US - which we are seeing in industry.

The other slow-to-measure impact is hesitation, concern, retraction in corporate boardrooms and budgets. (We saw Auto abruptly put the breaks on Capex last fall).

If you refuse to see the signs, you won't. If you're determined to see the signs, you'll see them everywhere. Either way, they are there.

 

[Third Party]

I see harm everywhere. The industrial sector is weak overall but the US consumer (70% of our economy) is holding up the economy with spending. Infrastructure is doing well but fueled by a $1 Trillion annual deficit. Auto is way down this year, industrial paper prices have fallen sharply (45% decline of spot price in Asia, middle-east and Mexico this year alone), copper is down and softening, steel is down and softening.

China has serious problems (I know, Haha) which is impacting the rest of Asia along with resource/ag heavy nations like Australia, Canada, Argentina, US - which we are seeing in industry.

The other slow-to-measure impact is hesitation, concern, retraction in corporate boardrooms and budgets. (We saw Auto abruptly put the breaks on Capex last fall).

If you refuse to see the signs, you won't. If you're determined to see the signs, you'll see them everywhere. Either way, they are there.

Do you own any stock? If so, sell, quick. If you have a job, get two more.

 

[Jomama]

No, I own a bunch of industrial companies and we're contracting as fast as we can to keep up with falling demand. When consumer spending collapses the nation will have a recession, ours has already begun. No complaining, it's part of a cycle but I'm not going to deny it to make a political point.

 

[Third Party]

No, I own a bunch of industrial companies and we're contracting as fast as we can to keep up with falling demand. When consumer spending collapses the nation will have a recession, ours has already begun. No complaining, it's part of a cycle but I'm not going to deny it to make a political point.

What kind of industrial companies? I worked in a lot of different factories.

 

[Jomama]

read above. Auto, steel, copper, paper, pharma, aerospace, utility.

 

[AzogtheDefiler]

read above. Auto, steel, copper, paper, pharma, aerospace, utility.

Pharma is an industrial company?

 

[Jomama]

read above. Auto, steel, copper, paper, pharma, aerospace, utility.

Pharma is an industrial company?

Oh great catch. Good for you. I got carried away and made a grievous error.

 

[Third Party]

read above. Auto, steel, copper, paper, pharma, aerospace, utility.

I worked in aerospace last and my coworkers tell me they are going gangbusters. Did you make some bad deals and lose money?

 

[Jomama]

read above. Auto, steel, copper, paper, pharma, aerospace, utility.

Did you make some bad deals and lose money?

Yes, more than once.

 

[Sandy Shanks]

The public continues to hear or read that President Trump's trade policies are hurting the U.S. economy and destroying our relationship with the world and hurting the U.S. consumer. They say the tariffs are especially harmful and causing price increases. I am having trouble finding factual data that support those talking points. Why do we see general statements in the media instead of the actual data?

One important point is the fact that since Trump started his trade war with China, the Dow has been treading water.

On Jan. 29, 2018, the Dow hit its 2018 high of 26,439. After a few days of wins and a good day today, the Dow stands at 27,137, an advance of only 698 in 20 months. For a hot economy, something is wrong. The stock market acts like a canary in the coal mine for the economy.

BTW, the Dow hit 27,335 on July 16, 2019. We have gone backwards since then.

Trump made another announcement of harsh tariffs on August first. The Dow was below the Jan. 2018 figure all month.

Dow Jones - 10 Year Daily Chart

I would be wary.

 

[Deplorable Yankee]

The public continues to hear or read that President Trump's trade policies are hurting the U.S. economy and destroying our relationship with the world and hurting the U.S. consumer. They say the tariffs are especially harmful and causing price increases. I am having trouble finding factual data that support those talking points. Why do we see general statements in the media instead of the actual data?



Here are some of the data:

In 2016, the last year of President Obama, exports were $1.45 trillion, and imports were $2.19 trillion.



In 2017, the first year of President Trump, exports were $1.55 trillion (up around 7%), and imports were $2.4 trillion (up around 10%).



In 2018, exports were $1.67 trillion (up around 8%, or up 15% over 2016). Imports were $2.54 trillion (up around 6%, up 16% over 2016).



In 2019, the first six months show around an $8-billion decrease in exports, or down less than 1%, and imports are up around $3 billion, or up less than 0.25%.



On August 14, the Bureau of Labor Statistics showed that from July 2018 to July 2019, import prices were down 1.8%, and export prices were down 0.9%



So which economic statistic shows that Trump's policies have hurt our relationship with trading partners around the world? Which statistics show that the U.S. consumer has been hurt? Think how much Trump's energy policies have helped the U.S. consumer.



The truth is, the U.S. economy is doing much better than most of the world and much better than projected precisely because of Trump's tax and regulatory policies. Trump is right that China and other countries have gotten away with murder on trade for decades, and Trump is dealing with it after previous presidents and Congress looked the other way.




(Excerpt) Read more at americanthinker.com ..

The United States is and always has been self sufficient, not needing anything from the rest of the world to grow and survive.

The WORLD needs the USA, WE DON”T NEED THEM!!!

Because they dont exist...rather the data and all the consumers screaming bloody murder .Just not there .
But the "economist" of the board will simply try and change the subject and skirt their own original concern over NOTHING and how off base they were

Which communist regime is worse ...the chicken or the egg DERP Derp derp derp