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Orange man bad
Chief
It's not that the left doesn't like tariffs, but just that broad based, across the board tariffs, have been bad economically based on history. The two occasions when the US levied similar tariffs, McKinley in 1890 and Smoot-Hawley in 1930 were key components in a recession and further compounding the Great Depression.
Republicans should be concerned as both of those tariff laws resulted in Democrats retaking Congress and the White House
There's a major difference vs. the Great Depression.
President Trump is using tariffs as a negotiating tool to rebalance trade, and trade deals have already been struck with many countries.
Europe is trembling in their feet because they know tariffs will mean guaranteed recession.
The German Chancellor said it himself. So, frankly, these tariffs will never hold.
Chief
None of these deals are improvements on anything prior. Where's the deal? Who is making what? Vietnam can't afford American made products. China wasn't restricting rare Earth materials to a detriment until the tariff nonsense started. Oh, and finally, who pays the tarrifs?
Pro
PM1, do you want to lump in literally all economists for that matter? Or what about free-trade conservatives? The only ones that seem to care about trade deficits as the principal metric for a country’s economic well-being are Trump and his supporters. What does that tell you?
Other trade barriers is another topic. But attempting to achieve neutral trade or a surplus with every country is so incredibly stupid and economically infeasible unless imports (and economic growth) sharply drop.
Pro
Reported for jfk jr brain worms
Pro
RFK jr named them after John John
Bro you shouldn't be consulting if you don't understand the basic economic consequences of the tariffs and how unstrategic these "deals" are
You do realise the so-called deal with Vietnam means *you* pay an additional 20% on anything you buy from them while they pay 0% on US made goods.
Also, there are no real deals, just press releases to make you believe there is a deal. Here is a line from the US UK "deal" as released by the WH:
"Both the United States and the United Kingdom recognize that this document does not constitute a legally binding agreement."
No legal binding. No arbitration. Nothing. And Trump regularly reneges on deals he signed in the past. Nobody trusts him.
@OP - you’d fit in well at KPMG with your superior grasp of economics
There's no trade deal with China, just a de-escalation from the back and forth retaliation. Vietnam and the UK basically announced concepts of a plan for a trade deal, not an actual agreement.
“Consulting”, let’s hope you’re not in business consulting.
He promised 90 deals in 90 days and got 2 😂
He didn't get 2 trade deals, he got 2 press releases from countries with concepts of a plan. Have you ever seen an actual trade agreement? They're hundreds to thousands of pages long.
All we needed was a leader who stood up for the American worker and that right now is Trump. He's not perfect but he finally got to all the foreign governments that the left let screw Americans. Now these people who we are negotiating with have to adhere to the agreements . These countries; Japan , South aKorea , Kazakhstan, South Africa., Malaysia and Laos have to decide to negotiate or face stiff tariffs of between 25 to 40 percent ! They obviously have been dragging their feet on this Those tariffs go into effect in 30 days !
Man, we will see what we end up with but “governments that screw america”? Really?
There is no country in the world that benefits more from free international trade than US. The reason why US can afford 36 trillion debt is because of strong dollar and countries buying US treasury bonds and puting road blocks in it only hinders that. Also Trump is not really putting most tariffs on specific industries but broad country tariffs, lots of the products affected will never be produced in US and will just become more expensive…
You know who are thinking of workers a lot? Communists. Doesn’t change the fact that they make stupid economic decisions
"My stomach hurts. I decided to hit my head against the wall and blackout, so now my stomach doesn't seem to hurt as much. The left can't say why I shouldn't hit my head against the wall because they also don't know how to fix the stomachache"
The unanswered question is whether these countries will adhere to the terms of the agreement. If they do, it's a win. If they don't, it's, "same stuff, different day."
Chief
They work if you are TACO.
Consultant, do you like guac with your TACO or you take it raw ?
Many people on the left are dumb, but fortunately, the good news for you is the right hates tariffs, too, and don’t find them to be beneficial
We will see, I guess. From economy perspective they are just generally bad outside of exceptional cases. As a leverage/negotiation tactics… it is weird to me that Trump applied it to both “enemies” and “friends” but It is a longer term thing I guess - i will judge what we end up with when it is done and its effects/costs
OP, Looked through lots of your comments in a thread.
you are mixing 2 different things:
1. scaring others because they will be hurt more than us
2. How tariff imposed on goods will actually help US economy
Just because 1 works (sometimes) it does not mean 2 will happen.
2 might happen as a result of tariff on specific goods from specific countries but generally speaking it will just increase domestic prices because it still will be cheaper to produce somewhere.
The other thing; you cant get tariff revenue and start produce domestically at the very same time - only 1 of 2 can happen with a given product
Whatever gets clients to start signing contracts again I'll take. If it's a dancing clown in times square I'm cool with it