Trump tariffs: ruin U.S. economy until 2040
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Anonymous
Got it. Well, the Republican Party is no longer the party of free trade, lower deficit, smaller government. Honestly, not sure if they ever really were. They’ve always been the party of racist. They just packaged it differently. But now they are the party of racist and nihilists. |
Anonymous
It sounds so simple, but it does not happen so easily. First, there are not enough or any locally produced products that can replace imports, depending on the import. In order to spur manufacturing, the U.S. has to have a policy in place that lubricates the runway for production. If I asked you to start making toaster ovens tomorrow, how would you even start? You need capital, you need expertise, you need to build a factory, you need employees, you need investors. And importantly, you need parts, like light bulbs, heating elements, circuits, glass, etc - which you could have imported from Asia, but now you have to manufacture them yourself, or wait for the U.S. light bulb factory to get up and running. Otherwise your toaster oven will be more expensive than the one imported from taiwan, even with the tariff. The revenue from the tariffs will not be enough to subsidize factories. The only way that tariffs might help a nascent industry is if they are targeted and if there is a clear plan to start an industry. In S Korea, Hyundai wanted to make cars and the government supported this because, at the time, S Korea was still developing their economy. They bought a bunch of cars from ford so they could study them, went beyond tarrifs and outright banned foreign car imports, forcing Koreans to drive local cars even though they would rather be driving Mercedes and bmw’s. I’ll add that they started in the 1960’s and managed to produce their first car in 1975. And then survived the disaster that was the Hyundai excel, before finally becoming a respected manufacturer in the 90’s/2000’s. So it took 35-40 years. But that is not what is happening with trump’s crude, scatter shot, blow it all up strategy. |
Anonymous
X1000 so sick of that narrative |
Anonymous
The administration dismantled the federal office that coordinates this. |
Anonymous
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The US imports Nickel and Vanilla from Madagascar - not stuff you can grow/mine everywhere and particularly not in the US.
The US doesn't export much because the average income there is $510 per year. Because Trump’s Tax is based on trade deficit, not tariffs, the US is now slapping a 90% tariff on Madagascar. I am not even sure why they would want to sell to us anymore. |
Anonymous
Why haven't other countries realized this? The price paid for a Corolla is over $50k in many countries. |
Anonymous
These tariffs are going to wind up screwing the food industry, specifically bakeries isn’t it? |
Anonymous
What about Biden's executive order requiring government contractors to pay a $15 minimum wage to their workers that would increase every year? It was at $17.75 when Trump rescinded last month. |
Anonymous
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I posted a few days ago either here or in the 47 Economy thread - it BOGGLES my mind that Wall Street bigwigs were so all in for Trump this time without at all noting the giant risk that he would, you know, implement the policies he spent all of his rallies talking about. Tariffs were his only economic plan. |
Anonymous
| The guy is a low-IQ, orange goofball. What did we expect? We reap what we sow. |
Anonymous
We are ruled by the dumbest people on the planet:
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Anonymous
| This economic policy and the tariff is all from the man who BANKRUPTED A CASINO!!!!! |