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Even now when we enact retaliatory tariffs all of the talk is about the new tariffs that will be levied against us in response and no mention is made of other nations perhaps relaxing or removing tariffs they already have against us. We're just supposed to accept that those are already baked in to the cake and are not up for negotiation.
Not exactly. Tariffs are usually negotiated by experienced professionals, not dictated by a President who has no idea what he's doing. And I have no idea what tariffs are "baked in the cake", the only one that comes to mind is Canada's high tariff on milk imports. But can you blame them for refusing to lift that tariff? Unlike the US Canada values their dairy farmers and protect them from being put out of business by the mega dairy farms that overproduce every single year in an effort to completely obliterate our small dairy farmers, and if they could they would take out all the Canadian dairy farms too. And Walmart just did a lot more damage to our small farms that Canada ever did, they are opening their own milk production plant and farmers have already had to start selling their stock because they no longer have a buyer for their dairy products
Quote:
SMITHFIELD, Ky. — All Curtis Coombs wanted was to raise cows and run his family’s dairy farm in this slice of Kentucky hill country, less than 35 miles from Louisville. But a few weeks ago, he was forced to sell his milking herd of 82 cows, putting an end to his family’s nearly 70-year dairy business...Coombs is one of more than 100 dairy farmers across seven states who learned in March that they would lose their contract with Dean Foods, which runs a milk processing plant in Louisville that mainly served Walmart. Dean Foods is shutting the plant at the end of the summer because Walmart is building its own processing facility in Fort Wayne, Indiana, and will work directly with dairy farms there instead. https://www.nbcnews.com/news/us-news...st-you-n887941
An trade deficit is detrimental to the US economy because it is financed with debt. The US can buy more than it makes because it borrows from its trading partners. It's like a party where the bartender is willing to keep serving you and putting it on your tab. This can only continue as long as the bartender trusts you to pay the tab (debt). One day, the lending countries could decide to ask America to repay the debt. On that day, the party is over.
We owe about $5 trillion to other countries, including China.
Except that's not how any economist has ever explained trade deficits. So try again.
The United States has become a gigantic lactating breast that the rest of the world feeds upon.
Trump is weaning these greedy globalist children off of the milk of the middle class taxpayer.
An trade deficit is detrimental to the US economy because it is financed with debt. The US can buy more than it makes because it borrows from its trading partners. It's like a party where the bartender is willing to keep serving you and putting it on your tab. This can only continue as long as the bartender trusts you to pay the tab (debt). One day, the lending countries could decide to ask America to repay the debt. On that day, the party is over.
We owe about $5 trillion to other countries, including China.
I don't remember hearing any previous President mention anything about this. I doubt that most people are even aware that foreign countries have been using America as their Piggy bank for decades.
Why did it take the American mid-west to be literally destroyed economically before a President came along to address the issue of unfair trade?
The unfair about trade deals is that Wall Street are writing these trade deals and the workers and labor unions are left out with no say in the matter. Its not really "America vs the foreign countries" but "Wall Street vs labor". I dont see Trump boosting labor unions at all at the expense of Wall Street.
Targeting foreigners when the population is crushed economically by the domestic elites is a common tactic though. Its often used when income inequality gets so out of hand that the elites feel compelled to address it and point to a bogeyman (not themselves of course).
Except the largest part of the Wall Street is held by the workers and unions in the forms of their pensions and retirement investments.
B/c it's junk logic that reflects a dumb person's understanding of a complex issue. Other presidents had the commonsense to listen to economists when they explained why just looking at a trade deficit was pointless, especially in the bigger picture.
For example, we traded low-level manufacturing to China, and that opened up our produce farmers to export vast amounts of fruits & veggies to China. Donald Trump is the dumb person that wants to bring back factory jobs that pay $4/hr at the expense of the soy farmers who make their living selling to China.
And if it's not clear that we don't need those low-skill factory jobs -- we're at 4% UE w/o them. Who's going to work those jobs if every single one of them came back? No one!
But if those job did come back, they wouldn't come back @ $4/hour. They would be 5-6x more expensive. And who would be eating the gigantic price hike that would inevitably occur? The consumer.
So the reason that Donald Trump is the only POTUS to challenge the trade imbalance? It's b/c no POTUS was DUMB ENOUGH to try to upend it!
Very good post.
USA could always bring in mexicans and other people from central america to fill all those
“new” american/USA factory jobs....cuz born and bred american sure aren’t enjoy
working in a factory making minium wage .....including most of those heavy duty Trump
supporters here on C-D...I’m sure they’re not pining to work in factory
Please please canI have a factory job...graveyard shift please
Gov't needs to reduce spending and the people should wean themselves off gov't dependency too. Why is it that gov't thinks that we can afford for them to keep digging deeper into our pockets.
USA could always bring in mexicans and other people from central america to fill all those
“new” american/USA factory jobs....cuz born and bred american sure aren’t enjoy
working in a factory making minium wage .....including most of those heavy duty Trump
supporters here on C-D...I’m sure they’re not pining to work in factory
Please please canI have a factory job...graveyard shift please
First able bodied people on welfare need to get off their high horse and accept those jobs first.
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