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Trump Tariffs

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    that guy in AZ Wrote:

    The New York Times published an article this morning that spells out what effect the Trump tariffs would have on the economy of various states.

    If I were a lawmaker in either Michigan or Texas, I'd likely want to hang Trump up by his testicles, since both of these states depend heavily on imports from Mexico. Michigan would actually be hurt the most, since more than 10% of the state's economy depends on imports from Mexico. Every one of our 50 states imports at least some products from Mexico, which proves that Trump's tariffs on Mexico are a REALLY STUPID IDEA.

    https://www.nytimes.com/2019/06/05/business/economy/mexico-tariffs-state-by-state.html?smid=nytcore-ios-share

    Arizona; I call these things "pure blackmail" as the "mob" always does. The only hope I have that the GOP wakes up; but so far only a little sputter, nothing else.
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    Dutch:

    It looks like the mob boss won this round.

    Last night, he announced (by Twitter) that he was backing off his plan to impose increasingly more severe tariffs on Mexican goods.

    “The Tariffs scheduled to be implemented by the U.S. on Monday, against Mexico, are hereby indefinitely suspended.

    Mr. Trump views the increase in immigration as a direct assault on his political brand and the promises that he made while running for president. He vowed to build a wall along the border and eliminate illegal immigration — two pledges that he has largely failed to deliver as president. Trump's tariffs, which were even opposed by Republicans senators, was simply a ploy to placate his die-hard base, since Mexico has agreed to take stronger action against families fleeing crime-ridden countries in Central America.

    https://www.nytimes.com/2019/06/07/us/politics/trump-tariffs-mexico.html?action=click&module=Top%20Stories&pgtype=Homepage

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    The latest; India now also put tariffs on US goods, because trump did it on Indian goods.

    Sorry people this "trade mess" started by Trump will have huge consequences. May be now the economy still is OK but it won't last, because of having an idiot in the W.H. who has no idea about "cause" and "effect".

    The "billionaires" won't suffer, they will protect themselves sufficiently. However the "little man" will suffer in the end.

    Also if this "turmoil" gets bigger; they will point fingers at this country as being the culprit, who did start all of this.

    Guess who will be more and more eventually isolated from the rest of the world?

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    Hundreds of United States businesses from local bridal shops to multibillion-dollar retailers have submitted comments to the US Trade Representative's office opposing President Donald Trump's plan to slap tariffs on another $300 billion of Chinese imports.

    Seven days of public meetings are scheduled to start today.

    Will Trump pay attention?

    Who knows?

    https://www.aljazeera.com/ajimpact/businesses-plead-left-trump-china-tariff-list-190617135641889.html

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    Originally, trump said tariffs would hurt China. Today or yesterday, he finally admitted that his tariffs would hurt retailers and consumers. Duh. Lying sack of doo doo.
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    As we've discussed, Trump's tariffs on China have caused financial pain for both U.S. businesses, consumers, and our allies.

    If we are ever going to come to a mutual understanding with China, it's important that we show good faith by not pissing off the Chinese.

    True to form, Trump just did exactly that.

    Trump's administration just approved the sale of $8 billion of fighter jets to Taiwan. This would be the largest such sale in decades, despite stalled trade talks and rising tension with Beijing.

  • Are you sure you want to delete this post?
        
    that guy in AZ Wrote:

    As we've discussed, Trump's tariffs on China have caused financial pain for both U.S. businesses, consumers, and our allies.

    If we are ever going to come to a mutual understanding with China, it's important that we show good faith by not pissing off the Chinese.

    True to form, Trump just did exactly that.

    Trump's administration just approved the sale of $8 billion of fighter jets to Taiwan. This would be the largest such sale in decades, despite stalled trade talks and rising tension with Beijing.

    Indeed, like you said it is in the nature of the guy to piss people off ; everything with him is "bully" tactics. The only thing I don't understand that Beijing allows this sale at all. Xi hopefully blocks it.
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    Michael Ramirez drew a very accurate picture of Trump's tariffs om August 15:

    https://www.gocomics.com/michaelramirez/2019/08/15

    Trump already knows that his tariffs are a disaster. Since he will NEVER take responsibility for anything, he is already lining up scapegoats if the economy goes south. As of this morning, he is already seeing sign of a conspiracy. He has insisted that his own handpicked Federal Reserve chair, Jerome H. Powell, is intentionally acting against him. He has said other countries, including allies, are working to hurt American economic interests. And he has accused the news media of trying to create a recession.

    https://www.nytimes.com/2019/08/18/us/politics/trump-economy-recession.html?action=click&module=Top%20Stories&pgtype=Homepage

    The president’s broadsides follow a long pattern of conspiratorial thinking.

    Peter Navarro, a top trade adviser who has urged the president on in his trade war, dismissed a study from researchers at Harvard, the University of Chicago, the International Monetary Fund and the Federal Reserve Bank of Boston that showed that the cost of Mr. Trump’s tariffs had “fallen largely on the U.S.,” not on China and other countries, as the administration has asserted.

    Navarro's views are significantly outside the mainstream of economic thought, and he is generally considered a heterodox economics. If you believe him instead of the institutions shown in bold, you are a very foolish person.

    https://en.wikipedia.org/wiki/Peter_Navarro

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    38% of the members of the National Association for Business Economists predict that the recession will start in 2020, and 34% are predicting 2021. A majority of economists said Trump's tax cuts "had an overall negative impact on housing activity over the past 18 months," due to changes in deductions allowed for mortgage interest.

    https://www.aljazeera.com/ajimpact/economists-expect-recession-2020-2021-survey-190819072819514.html

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    Trump surrounds himself with assholes like Navarro, Ross. Kudlow etc. who have no clue about "world interfaces" let alone economic intertwines (especially in countries which follow other systems and rules and forms of governing) and its effect on trade. Trump now finally has become aware that Samsung is an competitor with Apple and tariffs on Apple benefit Samsung. I did mention a long time ago that nowadays "products" are often an combination of parts from all kind of places in the world and may be assembled elsewhere or here. So how are you going to calculate "tariffs"? But yeah Trump does not know "shit" about that, let alone the nut heads he consults. Therefore as I mentioned many times, Presidents should not be allowed to tinker with "tariffs" I doubt of any of the "candidates" will ever change this if elected; but the Congress should design an "limits" manual for the next President; if not, then we'll get the same shit over and over again.
  • Are you sure you want to delete this post?
        
    that guy in AZ Wrote:

    38% of the members of the National Association for Business Economists predict that the recession will start in 2020, and 34% are predicting 2021. A majority of economists said Trump's tax cuts "had an overall negative impact on housing activity over the past 18 months," due to changes in deductions allowed for mortgage interest.

    https://www.aljazeera.com/ajimpact/economists-expect-recession-2020-2021-survey-190819072819514.html

    However the run-up towards recession will be noticed much sooner; a lot depends more or less on the "world" economy; the US may "follow" this pattern, but because of that, the real hit may come as other countries effected by it are already in the recovery state. Also due to the fact that our "system" is kind of "slow" to catch on especially with the Trump effect..
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    Kudlow over the weekend (interview) looked like a jackass. Another one of trump's lying minions.
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    A pecan festival in Green Valley, Arizona that drew thousands of visitors has been cancelled due to Trump's tariffs.

    Tariffs imposed by China played a big role in the decision but weren’t the only factor. The tariffs went from 10 percent in 2017, to 7 percent in January 2018, then soared to 47 percent in summer 2018.

    Tariffs on pecans haven’t been the only damage. The company that owns the pecan fields built a 40,000-square-foot refrigerated warehouse on its property on Sahuarita Road last year, and said steel prices doubled during the construction due to tariffs.

    https://www.gvnews.com/news/updated-pecan-festival-canceled-blame-it-on-a-lot-of/article_8a5d567c-c099-11e9-8a8f-cbbd096e7b5a.html

    FICO, the company that owns the largest irrigated pecan orchard in the world, would agree that tariffs are, um, nuts.