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Let White House economic adviser Larry Kudlow explain it to you. He explains this problem has been around for decades and no one did anything. He clears up a lot of misconceptions and plain bad reporting.
It's all speculation -- including imposing tariffs.
But we rely on historical evidence, common sense for speculation -- it isn't completely random.
We also relied on "historical evidence" and speculation to predict who would become the president in 2016. Look how well that turned out.
Predicting anything this complex is usually pointless as there are so many potential outcomes. And, more importantly, the ultimate goal here is to not to have to levy tariffs in the first places. The goal is to influence these countries to negotiate a fairer deal with the US, as currently, these deals are skewed in favor of the other countries (why should we accept that??). What is wrong with Trump trying to make the trade situation a bit more fair with regards to tariffs, customs duties, etc.?
The EU currently charges nearly 5 times the import tax on US autos than we charge for importing their vehicles... why????
The ongoing trade deficit is ok with you? The U.S. buys more than it makes and borrows millions from trading partners. That's quite a tab to keep running, isn't it? What if they want us to cash out that tab? Talk about going bankrupt!
Purchasing so much from overseas for so long, this has cost us jobs, and not only that but the ability to make those goods ourselves anymore.
We lose expertise and we even lose entire U.S. companies that use to make those products.
We then have to outsource jobs. We then are FORCED into a trade for those products and like domino's we are forced into debt.
We aren't competitive in the market anymore, we are just in-debt and hungry for products that we can't make ourselves.
Not a good position for America to be in. It has to be stabilized or we will be in trouble. Most presidents ignore it and just pass it on.
Agreed. I'm not a Trump fan really but I agree with him on trade. He dramatically lowered the business tax rate and increased tariffs. Those two things will partially offset one another with the added benefit of reducing the trade deficit.
I'm not a Trump fan really but I agree with him on trade. He dramatically lowered the business tax rate and increased tariffs. Those two things will partially offset one another with the added benefit of reducing the trade deficit.
How would it reduce the trade deficit if exports decrease due to retaliation from other countries. For example, China stopped buying soybeans from the USA. Other countries are adding tariffs on items which originate in the USA. This will result in a reduction of exports to those countries.
We also relied on "historical evidence" and speculation to predict who would become the president in 2016. Look how well that turned out.
Predicting anything this complex is usually pointless as there are so many potential outcomes. And, more importantly, the ultimate goal here is to not to have to levy tariffs in the first places. The goal is to influence these countries to negotiate a fairer deal with the US, as currently, these deals are skewed in favor of the other countries (why should we accept that??). What is wrong with Trump trying to make the trade situation a bit more fair with regards to tariffs, customs duties, etc.?
The EU currently charges nearly 5 times the import tax on US autos than we charge for importing their vehicles... why????
So you are saying - in order to get the tariff down on cars in Europe -- the US is slapping a tariff on Canada.
Agreed. I'm not a Trump fan really but I agree with him on trade. He dramatically lowered the business tax rate and increased tariffs. Those two things will partially offset one another with the added benefit of reducing the trade deficit.
rhetoric about the “trade deficit” is misleading. “Trade deficit” sounds bad, but a trade deficit makes up a large chunk of the US current account (payments flowing out) and is offset by the US capital account (payments flowing in). A politician saying “we’re running record trade deficits” and a politician saying “we’re running record capital surpluses” are saying the same thing. I’m not sure why they don’t emphasize capital surpluses more, but I suspect it’s because people view foreign investment in the US as a very bad thing because it means they are buying our assets. It’s a view of international trade as imperialism that simply isn’t correct.
What's important is what is happening at home. Job growth has been steady for almost 8 years now. We are at the lowest unemployment in years.
Adding 500 jobs in one industry to perhaps cost thousands across the nation is just not worth it.
What happens during the next downturn? We beg for cheap goods again? Go into more debt? This is a long-term solution that will set us up for fair trade. Would you rather not because things seem fine right now?
We also relied on "historical evidence" and speculation to predict who would become the president in 2016. Look how well that turned out.
Predicting anything this complex is usually pointless as there are so many potential outcomes. And, more importantly, the ultimate goal here is to not to have to levy tariffs in the first places. The goal is to influence these countries to negotiate a fairer deal with the US, as currently, these deals are skewed in favor of the other countries (why should we accept that??). What is wrong with Trump trying to make the trade situation a bit more fair with regards to tariffs, customs duties, etc.?
The EU currently charges nearly 5 times the import tax on US autos than we charge for importing their vehicles... why????
If you are using trade deficit statistics to determine fair trade then you are already lost.
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