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Reciprocal tariffs

  

Category:  Op/Ed

By:  vic-eldred  •  3 weeks ago  •  123 comments

Reciprocal tariffs
Commerce Secretary Howard Lutnick says he expects the main result of Trump's tariffs to be that other countries will re-examine their trading policies with regard to accepting imports of goods from the United States. "And stop picking on us. Stop saying that we can't sell our corn to India, stop saying that we can't sell our beef anywhere. Just stop treating us so poorly," Lutnick added.


Yesterday, President Trump held up a chart at the White House Rose Garden detailing the reciprocal tariffs he would impose on the countries that America trades with. They weren't exactly reciprocal as they had a base line minimum of 10% and they were usually half of what many other countries charged the US. The President explained that the tariffs are necessary to counter trade barriers that other countries have placed on America. Clearly, he has a point: Other nations do have higher tariffs than the United States does. 


The tariffs are in addition to past tolls, such as those Trump placed on China. They exempt some goods, including some forms of energy, pharmaceuticals and things that have already been tariffed, such as cars, steel and aluminum.

Trump offered one consolation: Trump said he would withdraw his tariffs if other countries rescinded their own trade barriers. Israel has already dropped all of its tariffs on US goods and Canada has offered to do the same. This issue will help to define President Trump's second term. It may be part of a success story or a monumental failure. We are only halfway through the first chapter.


In other news:

Hungary announced that is withdrawing from the World Court after Benjamin Netanyahu arrived in the country for a visit despite facing an international arrest warrant.

Three U.S. citizens sentenced to death over a failed coup attempt in the Democratic Republic of Congo have had their sentences commuted to life imprisonment. I wonder who they were working for?

The U.N. accused Israel of killing 15 of its "humanitarian workers" in Gaza.

Multiple tornadoes were reported across the south and Midwest.

Amazon made a bid to acquire TikTok which has a Saturday deadline to find a new owner. The U.S. has also discussed a possible deal with Oracle, the tech giant co-founded by Trump’s friend Larry Ellison.

Tesla’s global sales in the first quarter fell 13 percent from a year earlier, in part because of all the vandalism emanating from the radical left.

A judge in New York finally did something according to the law and dismissed the corruption case against New York City’s mayor, Eric Adams, now that the Justice Department dropped it.

The Supreme Court upheld an F.D.A. order that prohibited retailers from marketing flavored vapes, which are popular with teenagers.

Milbank, a large law firm, agreed to a deal to provide $100 million in pro bono legal services to causes supported by President Trump.

Xavier Becerra, the controversial former secretary of the Health and Human Services Department, announced that he would run for Governor of California.

Voter counts reveal that the liberal candidate in Wisconsin’s Supreme Court race benefited from an exceptionally large democratic turnout.


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Vic Eldred
Professor Principal
1  author  Vic Eldred    3 weeks ago

Good morning and welcome to the news.

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Let us all grab our coffee and make plans for another big day.

 
 
 
JBB
Professor Principal
1.1  JBB  replied to  Vic Eldred @1    3 weeks ago

Do you want cheese on your Egg McMuffin?original original

 
 
 
bugsy
Professor Participates
1.1.1  bugsy  replied to  JBB @1.1    3 weeks ago

[deleted][]

 
 
 
Vic Eldred
Professor Principal
1.1.2  author  Vic Eldred  replied to  bugsy @1.1.1    3 weeks ago

removed for context

 
 
 
bugsy
Professor Participates
1.1.3  bugsy  replied to  JBB @1.1    3 weeks ago

.

 
 
 
bugsy
Professor Participates
1.1.4  bugsy  replied to  bugsy @1.1.3    3 weeks ago

have-fun-in-prison.jpg

Good!!!

 
 
 
Sean Treacy
Professor Principal
1.1.5  Sean Treacy  replied to  bugsy @1.1.1    3 weeks ago

Fanatics are going to fanatic.

 
 
 
Vic Eldred
Professor Principal
1.1.6  author  Vic Eldred  replied to  bugsy @1.1.4    3 weeks ago

That's a breaking story.

Good job.

 
 
 
Sparty On
Professor Expert
1.1.7  Sparty On  replied to  bugsy @1.1.4    3 weeks ago

Bubba is gonna love that nancy-boy.

 
 
 
Buzz of the Orient
Professor Expert
1.2  Buzz of the Orient  replied to  Vic Eldred @1    3 weeks ago
''Canada has offered to do the same''  (i.e. drop its tariffs)

I've been following the Canadian news fairly closely and I never saw that.  Do you have a link to a source I can open?

 
 
 
Vic Eldred
Professor Principal
1.2.1  author  Vic Eldred  replied to  Buzz of the Orient @1.2    3 weeks ago

He may not speak for all of Canada, but I heard it last night:

"Ontario Premier Doug Ford said  Canada  is willing to remove all tariffs currently imposed on the United States if the  Donald Trump  administration backs down on its own measures, set to be announced on Wednesday in what he has described as "Liberation Day."

Canadian Premier Says He's Willing To Remove Tariffs 'Tomorrow' If Trump Backs Down

 
 
 
Sparty On
Professor Expert
1.2.2  Sparty On  replied to  Vic Eldred @1.2.1    3 weeks ago

Now we are talking.    Hope it happens.    No one really wins in a trade war like this so it’s unfortunate that threats of tariffs is required to bring some folks to the table.

 
 
 
Vic Eldred
Professor Principal
1.2.3  author  Vic Eldred  replied to  Sparty On @1.2.2    3 weeks ago

It has yet to shake itself out and it remains to be seen how it will work out.

 
 
 
Sparty On
Professor Expert
1.2.4  Sparty On  replied to  Vic Eldred @1.2.3    3 weeks ago

I have hope it will end for the best.     For both parties

 
 
 
Vic Eldred
Professor Principal
1.2.5  author  Vic Eldred  replied to  Sparty On @1.2.4    3 weeks ago

I'm hoping that we can return to the time when average Americans can afford homes and cars again.

 
 
 
Sparty On
Professor Expert
1.2.6  Sparty On  replied to  Vic Eldred @1.2.5    3 weeks ago

Still paying for 40 year high inflation.    Unfortunately that won’t magically go away just because rates are lower right now.

 
 
 
Vic Eldred
Professor Principal
1.2.7  author  Vic Eldred  replied to  Sparty On @1.2.6    3 weeks ago

It is going to take time. It's like getting a boy through boot camp.

 
 
 
devangelical
Professor Principal
1.3  devangelical  replied to  Vic Eldred @1    3 weeks ago

 
 
 
devangelical
Professor Principal
1.4  devangelical  replied to  Vic Eldred @1    3 weeks ago
Tesla’s global sales in the first quarter fell 13 percent from a year earlier, in part because of all the vandalism emanating from the radical left.

a willfully ignorant comment ...

 
 
 
Vic Eldred
Professor Principal
1.4.1  author  Vic Eldred  replied to  devangelical @1.4    3 weeks ago

It is called FACT checking.

 
 
 
Vic Eldred
Professor Principal
2  author  Vic Eldred    3 weeks ago

BREAKING: AG Pam Bondi announces charges against Cooper Frederick for allegedly firebombing a Tesla dealership in Loveland, Colorado.

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He faces up to 20 years in prison.

Looks like a college boy.

 
 
 
Vic Eldred
Professor Principal
3  author  Vic Eldred    3 weeks ago

U.S. District Judge Anthony Trenga just blocked the CIA and the Office of Director of National Intelligence from firing employees who worked on DEI initiatives.

GnavyxxXsAA5eR4?format=jpg&name=360x360

Trenga, the judge who also oversaw Durham’s case against the Russian-born Igor Danchenko,  kneecapped the special counsel  ahead of the October 2022 trial, including ruling that Durham could not use details from the FBI’s prior counterintelligence investigation into Danchenko. He was accused of being the  main source for British ex-spy Christopher Steele’s  debunked dossier . Trenga limited a host of other evidence Durham had sought to show the jury as well.

During the trial, Trenga  dealt Durham's case another blow  as he dismissed one of the false-statement charges brought against Danchenko, who was  acquitted of all charges  in October 2022. The Eastern District of Virginia is known for handling many national security cases, and Trenga has also been a  member of the Foreign Intelligence Surveillance Court  since May 2020, and has been the presiding judge on the secretive court since May 2023.

Same judge blocking CIA efforts to fire DEI employees hamstrung the Steele Dossier prosecution | Just The News

The same judge?  Interesting.

 

 
 
 
Jeremy Retired in NC
Professor Expert
3.1  Jeremy Retired in NC  replied to  Vic Eldred @3    3 weeks ago

When does a DISTRICT JUDGE have jurisdiction over federal departments?

 
 
 
bugsy
Professor Participates
3.2  bugsy  replied to  Vic Eldred @3    3 weeks ago

I'm sure it was a "random" drawing to get this judge s/

 
 
 
Vic Eldred
Professor Principal
3.2.1  author  Vic Eldred  replied to  bugsy @3.2    3 weeks ago

It happened again just hours ago. I was in the Deli line, and I grabbed a ticket: It said Judge Trenga on it!

 
 
 
Sparty On
Professor Expert
3.3  Sparty On  replied to  Vic Eldred @3    3 weeks ago

Hopefully people are paying attention.    Our friends on the left are banking on it that they are not and their attempts to steamroll the system will go unnoticed.

 
 
 
Vic Eldred
Professor Principal
3.3.1  author  Vic Eldred  replied to  Sparty On @3.3    3 weeks ago
Hopefully people are paying attention.  

Americans got it already.


 Our friends on the left are banking on it that they are not and their attempts to steamroll the system will go unnoticed.

In Europe they have adopted the American left's lawfare to ban the opposition. Just in the past year they did it in Rumania, Germany and France.

 
 
 
Vic Eldred
Professor Principal
4  author  Vic Eldred    3 weeks ago

The word out of Tokyo this morning:

03themorning-nl-stocks-lgcv-jumbo.jpg

Holy shit, Trump meant business!

 
 
 
Jeremy Retired in NC
Professor Expert
5  Jeremy Retired in NC    3 weeks ago
Tesla’s global sales in the first quarter fell 13 percent from a year earlier, in part because of all the vandalism emanating from the radical left.

It's hilarious that the very people demanding that everybody buy an EV are now vandalizing and destroying EV's.  Just shows it was never about the environment as they claimed, it was about control.

 
 
 
Vic Eldred
Professor Principal
5.1  author  Vic Eldred  replied to  Jeremy Retired in NC @5    3 weeks ago

It's kind of like how they were with wearing masks.

It's virtue signaling without virtue.

 
 
 
Jeremy Retired in NC
Professor Expert
5.1.1  Jeremy Retired in NC  replied to  Vic Eldred @5.1    3 weeks ago
It's kind of like how they were with wearing masks.

I call them as they are - hypocrites.

 
 
 
Greg Jones
Professor Participates
5.1.2  Greg Jones  replied to  Jeremy Retired in NC @5.1.1    3 weeks ago

I have names for them that I can't mention here.

 
 
 
Vic Eldred
Professor Principal
5.1.3  author  Vic Eldred  replied to  Jeremy Retired in NC @5.1.1    3 weeks ago

I think a few of us are being kind today.

 
 
 
Vic Eldred
Professor Principal
5.1.4  author  Vic Eldred  replied to  Greg Jones @5.1.2    3 weeks ago

Bingo!

 
 
 
Jeremy Retired in NC
Professor Expert
5.1.5  Jeremy Retired in NC  replied to  Vic Eldred @5.1.3    3 weeks ago

Don't want to make certain people cry any more than they already are.

 
 
 
JBB
Professor Principal
5.1.6  JBB  replied to  Jeremy Retired in NC @5.1.5    3 weeks ago

Crying because their nest egg died?

 
 
 
Sparty On
Professor Expert
5.1.7  Sparty On  replied to  JBB @5.1.6    3 weeks ago

Mines fine …. Of course you need to have one for it to be fine or dead ……

 
 
 
Sean Treacy
Professor Principal
5.2  Sean Treacy  replied to  Jeremy Retired in NC @5    3 weeks ago
Just shows it was never about the environment as they claimed, it was about control.

That's there entire climate policy in a nutshell. 

 
 
 
Jeremy Retired in NC
Professor Expert
5.2.1  Jeremy Retired in NC  replied to  Sean Treacy @5.2    3 weeks ago

It's always something going to happen in 10 years.  Then nothing happens outside of wasted money.

 
 
 
Snuffy
Professor Participates
5.2.2  Snuffy  replied to  Jeremy Retired in NC @5.2.1    3 weeks ago

Well it's not wasted money if you're on the inside raking it in. How the hell does someone making an annual salary of $174,000 become a multi-millionaire? 

 
 
 
Jeremy Retired in NC
Professor Expert
5.2.3  Jeremy Retired in NC  replied to  Snuffy @5.2.2    3 weeks ago
Well it's not wasted money if you're on the inside raking it in. How the hell does someone making an annual salary of $174,000 become a multi-millionaire?

Explains why Democrats are fighting everything so much.

 
 
 
Sparty On
Professor Expert
5.3  Sparty On  replied to  Jeremy Retired in NC @5    3 weeks ago

It’s fun watching them try to rationalize their way out of this one.    

The lies just get larger and more plentiful.

 
 
 
Jeremy Retired in NC
Professor Expert
5.3.1  Jeremy Retired in NC  replied to  Sparty On @5.3    3 weeks ago
It’s fun watching them try to rationalize their way out of this one.

It's almost like they are in competition with themselves to come up with the most idiotic justification.

 
 
 
Sparty On
Professor Expert
5.3.2  Sparty On  replied to  Jeremy Retired in NC @5.3.1    3 weeks ago

I blame us.    

Both Republicans and Democrats, that have let them get away with unfair trade practices for so long.    Now that is the status quo for Canada.    What they are used to.    So the temper tantrum is expected.

Calmer heads will prevail on both sides and the chicken littles here will need to find something else to whine about.

 
 
 
George
Senior Expert
5.3.3  George  replied to  Sparty On @5.3.2    3 weeks ago
Now that is the status quo for Canada.

Canada is the neighbor that steals free internet from you and then get pissed off when you change the WI-FI password and demands you give it to them because they are entitled to it, because they have had a free ride for so long. 

 
 
 
Sparty On
Professor Expert
5.3.4  Sparty On  replied to  George @5.3.3    3 weeks ago

lol … great analogy. 

 
 
 
Just Jim NC TttH
Professor Principal
5.3.5  Just Jim NC TttH  replied to  George @5.3.3    3 weeks ago

 
 
 
JBB
Professor Principal
6  JBB    3 weeks ago

And the US stock market is already losing trillions in valuation today!

 
 
 
Vic Eldred
Professor Principal
6.1  author  Vic Eldred  replied to  JBB @6    3 weeks ago

That is true. Hopefully, it will gain it all back.

Too soon to make a call.

 
 
 
JBB
Professor Principal
6.1.1  JBB  replied to  Vic Eldred @6.1    3 weeks ago

"Economics is just math" - Bill Clinton 

 
 
 
JBB
Professor Principal
6.1.3  JBB  replied to  Vic Eldred @6.1.2    3 weeks ago

MAGA are fixing to learn again why John Maynard Keynes is The Father Of Modern Economics, and Milton Friedman IS NOT...

 
 
 
Vic Eldred
Professor Principal
6.1.4  author  Vic Eldred  replied to  JBB @6.1.3    3 weeks ago

Keynes would have been astonished to learn that democrats used his policies in good times.

They were nothing more than government solutions to an economic crisis.

 
 
 
JBB
Professor Principal
6.1.5  JBB  replied to  Vic Eldred @6.1.4    3 weeks ago

Yes, it is called monetary policy and it is why America led the world economically.

Led, as in past tense. As in 3 months ago!

 
 
 
Sean Treacy
Professor Principal
6.1.6  Sean Treacy  replied to  JBB @6.1.3    3 weeks ago
xing to learn again why John Maynard Keynes is The Father Of Modern Economic

I guess you must be celebrating Trump's tariffs since you support Keynes and think Friedman, who opposed tariffs, is wrong about everything.  

 
 
 
Vic Eldred
Professor Principal
6.1.7  author  Vic Eldred  replied to  JBB @6.1.5    3 weeks ago
Yes, it is called monetary policy and it is why America led the world economically. Led, as in past tense. As in 3 months ago!

Let me write it down. Monetary policy = $36 Trillion in debt, a 9% inflation rate and $1 Trillion paying for interest on the debt.

 
 
 
Perrie Halpern R.A.
Professor Expert
6.1.8  Perrie Halpern R.A.  replied to  Vic Eldred @6.1.2    3 weeks ago

Since we are quoting, how about this: 

My fellow Americans:

This week, as we prepared for Thanksgiving, Canada held an important election, and I'm pleased to again send my congratulations to Prime Minister Mulroney. One of the important issues in the Canadian election was trade. And like our own citizens earlier this month, our neighbors have sent a strong message, rejecting protectionism and reaffirming that more trade, not less, is the wave of the future.

Here in America, as we reflect on the many things we have to be grateful for, we should take a moment to recognize that one of the key factors behind our nation's great prosperity is the open trade policy that allows the American people to freely exchange goods and services with free people around the world. The freedom to trade is not a new issue for America. In 1776 our Founding Fathers signed the Declaration of Independence, charging the British with a number of offenses, among them, and I quote, "cutting off our trade with all parts of the world," end quote.

And that same year, a Scottish economist named Adam Smith launched another revolution with a book entitled "The Wealth of Nations," which exposed for all time the folly of protectionism. Over the past 200 years, not only has the argument against tariffs and trade barriers won nearly universal agreement among economists but it has also proven itself in the real world, where we have seen free-trading nations prosper while protectionist countries fall behind.

hqdefault-2.jpg

America's most recent experiment with protectionism was a disaster for the working men and women of this country. When Congress passed the Smoot-Hawley tariff in 1930, we were told that it would protect America from foreign competition and save jobs in this country—the same line we hear today. The actual result was the Great Depression, the worst economic catastrophe in our history; one out of four Americans were thrown out of work. Two years later, when I cast my first ballot for President, I voted for Franklin Delano Roosevelt, who opposed protectionism and called for the repeal of that disastrous tariff.

Ever since that time, the American people have stayed true to our heritage by rejecting the siren song of protectionism. In recent years, the trade deficit led some misguided politicians to call for protectionism, warning that otherwise we would lose jobs. But they were wrong again. In fact, the United States not only didn't lose jobs, we created more jobs than all the countries of Western Europe, Canada, and Japan combined. The record is clear that when America's total trade has increased, American jobs have also increased. And when our total trade has declined, so have the number of jobs.

Part of the difficulty in accepting the good news about trade is in our words. We too often talk about trade while using the vocabulary of war. In war, for one side to win, the other must lose. But commerce is not warfare. Trade is an economic alliance that benefits both countries. There are no losers, only winners. And trade helps strengthen the free world.

Yet today protectionism is being used by some American politicians as a cheap form of nationalism, a fig leaf for those unwilling to maintain America's military strength and who lack the resolve to stand up to real enemies—countries that would use violence against us or our allies. Our peaceful trading partners are not our enemies; they are our allies. We should beware of the demagogues who are ready to declare a trade war against our friends—weakening our economy, our national security, and the entire free world—all while cynically waving the American flag. The expansion of the international economy is not a foreign invasion; it is an American triumph, one we worked hard to achieve, and something central to our vision of a peaceful and prosperous world of freedom.

After the Second World War, America led the way to dismantle trade barriers and create a world trading system that set the stage for decades of unparalleled economic growth. And in one week, when important multilateral trade talks are held in Montreal, we will be in the forefront of efforts to improve this system. We want to open more markets for our products, to see to it that all nations play by the rules, and to seek improvement in such areas as dispute resolution and agriculture. We also want to bring the benefits of free trade to new areas, including services, investment, and the protection of intellectual property. Our negotiators will be working hard for all of us.

Yes, back in 1776, our Founding Fathers believed that free trade was worth fighting for. And we can celebrate their victory because today trade is at the core of the alliance[s] that secure the peace and guarantee our freedom; it is the source of our prosperity and the path to an even brighter future for America.

Until next week, thanks for listening, and God bless you.

Source: Ronald Reagan, "Radio Address to the Nation on the Canadian Elections and Free Trade ," November 26, 1988. Online by Gerhard Peters and John T. Woolley,  The American Presidency Project .   .

Youtube clip from the Ronald Reagan Presidential Library: 



Were Reagan and our founding fathers wrong?

 
 
 
Thomas
PhD Guide
6.1.9  Thomas  replied to  Perrie Halpern R.A. @6.1.8    3 weeks ago
After the Second World War, America led the way to dismantle trade barriers and create a world trading system that set the stage for decades of unparalleled economic growth. And in one week, when important multilateral trade talks are held in Montreal, we will be in the forefront of efforts to improve this system. We want to open more markets for our products, to see to it that all nations play by the rules, and to seek improvement in such areas as dispute resolution and agriculture. We also want to bring the benefits of free trade to new areas, including services, investment, and the protection of intellectual property. Our negotiators will be working hard for all of us.

Nothing like jumping off of a ship when it is the middle of the ocean, by which I am referring to the Trump economic policy.

 
 
 
Jack_TX
Professor Quiet
6.1.10  Jack_TX  replied to  Perrie Halpern R.A. @6.1.8    3 weeks ago
Were Reagan and our founding fathers wrong?

Reagan was rarely wrong, but in this case there is a small factual error.

The actual result was the Great Depression, the worst economic catastrophe in our history

The Great Depression was not the result of Smoot Hawley.  It was already well underway when the act was passed.  That does not negate the point that it was not helpful.

However, Smoot Hawley was better than what we're doing now, where we have a single person behaving erratically and devastating the global economy. 

The scarier part, IMO, is that Trump's economic team absolutely knows better.  Which means he has assembled some very capable people and is ignoring their counsel. 

 
 
 
TᵢG
Professor Principal
6.1.11  TᵢG  replied to  Vic Eldred @6.1    3 weeks ago
Too soon to make a call.

You are watching your own investments crater and yet continue posting comments indicating a blind trust in the 'genius' of Trump.

Hopefully, it will gain it all back.

Over time the market will naturally recover.    What is not likely to recover naturally are our international relationships and GDP.   Trump seems to not understand the concept of a global economy.   He seems to think that the USA economic power is independent of working with other nations.   We are in a very precarious situation with a loose-cannon imbecile wielding the power of the presidency in such an irresponsible, damaging fashion with almost four more years of this clown at the helm.

 
 
 
Perrie Halpern R.A.
Professor Expert
6.1.12  Perrie Halpern R.A.  replied to  Jack_TX @6.1.10    3 weeks ago

Agreed that the Great Depression was in progress but most economist would say that the Smoot Hawley Act, made it much worse.

I also have to agree with this statement:

The scarier part, IMO, is that Trump's economic team absolutely knows better.  Which means he has assembled some very capable people and is ignoring their counsel. 

 
 
 
Jack_TX
Professor Quiet
6.1.13  Jack_TX  replied to  Perrie Halpern R.A. @6.1.12    3 weeks ago
Agreed that the Great Depression was in progress but most economist would say that the Smoot Hawley Act, made it much worse.

Yeah.  I'd agree with that.

 
 
 
Jack_TX
Professor Quiet
6.1.14  Jack_TX  replied to  Vic Eldred @6.1    3 weeks ago
That is true. Hopefully, it will gain it all back.
Too soon to make a call.

It will undoubtedly gain it all back.

The questions are:

  1. How long will that take?
  2. Why are we self inflicting such serious wounds?
 
 
 
Right Down the Center
PhD Guide
6.1.15  Right Down the Center  replied to  Jack_TX @6.1.14    3 weeks ago

Excellent questions.  I have seen a few people suggest Americans should consider this like a sacrifice during war time.  I know it is early in the year but I nominate those comments the dumbest of the year.

 
 
 
Vic Eldred
Professor Principal
6.1.16  author  Vic Eldred  replied to  TᵢG @6.1.11    3 weeks ago
You are watching your own investments crater and yet continue posting comments indicating a blind trust in the 'genius' of Trump.

Over the past 70 years the US became deindustrialized because of tariffs from countries we were trying to help.

So much angst over Trump simply doing to others what they did to us.

 
 
 
TᵢG
Professor Principal
6.1.17  TᵢG  replied to  Vic Eldred @6.1.16    3 weeks ago
So much angst over Trump simply doing to others what they did to us.

That is such an oversimplification, it is shocking to read.

The USA labor costs are the primary driver of manufacturing centers relocating across the planet.    The workers in Vietnam, China, etc. earn substantially less than USA workers yet are human beings fully capable of learning how to do the jobs required.   There is no need for manufacturing firms to pay such high labor costs in the USA.

And Trump cannot reverse this trend.   He thinks (possibly) that by imposing tariffs the manufacturing companies will magically relocated to the USA.   The only way manufacturing (barring some exceptions) will return to the USA is through the use of robotic technology.   Manufacturing operations that are conventional, human-labor-centric, will remain in nations whose labor costs are lower.   That is basic economics.

All tariffs will do is is raise consumer prices.  They will drive down consumption in the USA and thus our GDP.   Further, the damage Trump continues to do in terms of global trade will necessarily result in fewer exports from the USA and thus another hit on our GDP.   The list of potential bad effects here is sickening and it is all unnecessary.

The way the USA prospers is to be a powerhouse working in an open global trade environment.   We buy cheap goods for our purposes (manufacturing and personal) and then excel primarily on innovation and technological prowess.   We should, for example, be focuses critically on renewable energy both in terms of the technology and exporting the actual energy.   We will succeed by being the best in what the world needs most.   Energy is a fine example of that.  

That is the positive, growth-oriented, winning strategy.   Trump is doing the opposite — he is operating as a retrograde protectionist.   He is trying cut costs (but in a stupid fashion) and trying to force the USA to be isolated and entirely self-sufficient.   That is a perfect recipe for shrinking the GDP and opening the door for other nations to entirely displace the USA on the world economic stage.

Trump is a clown.  He is a stubborn fool who is unfit for the presidency.   Trump is damaging our nation and will continue to do so until his supporters get a clue and start criticizing this idiot instead of trying to defend his foolish, damaging actions.

 
 
 
Greg Jones
Professor Participates
6.2  Greg Jones  replied to  JBB @6    3 weeks ago

Buy on the drops. The fearful are climbing that "wall of worry".

 
 
 
Just Jim NC TttH
Professor Principal
6.2.1  Just Jim NC TttH  replied to  Greg Jones @6.2    3 weeks ago

I know I am............buying that is. Chicken Little was never one of my favorite "fictional characters".

 
 
 
JBB
Professor Principal
6.2.2  JBB  replied to  Just Jim NC TttH @6.2.1    3 weeks ago

If you bought stock yesterday you are already down, bigly...

 
 
 
Nerm_L
Professor Expert
7  Nerm_L    3 weeks ago

It would have been unwise to believe that neoliberals would go quietly into the night.  In the short term we should expect the financial wizards to impose as much pain as possible on economies big and small.  It is rather difficult to believe that the middlemen driving the panic would wax nostalgic for tax-and-spend Democrats over the long haul.

The long term risk will be a gross influx of foreign capital into the US which would eventually require increasing business taxes and overturn what the tariffs are supposed to do.  Never underestimate the power of parasites to ruin a good thing.

 
 
 
freepress
Freshman Silent
8  freepress    3 weeks ago

If anyone believes that chart or this ridiculous voodoo tariff scenario there's an island full of penguins to conquer.

There is no realistic scenario of a good ending for this absolute madness.

The entire world is banding together to protect their own economies partnering with every major country Trump snubbed.

Everything will cost more, supply chains won't matter because deliveries will go to other countries willing to make deals, trade, and cooperate. We will suffer because our reputation has been trashed by Trump deliberately.

If everything Trump does is "wonderful" why has the defense of Trump now switched to "pain is okay", "pain is only temporary", "pain is necessary". I thought Trump would usher in prosperity?

Stock markets crashing, prices rising, massive job losses acceptable, cutting the FDA, HHS, and CDC, cancer research funding, Nobel Prize winning researchers fired, exodus of Medical talent going overseas, the list is long and the effects will hit very very soon.

Food and Drugs will be less safe for all of us, red states will be hit the hardest since the Republicans in those states already opted to cut state run programs.

None of this is making America great. So keep cheerleading Trump, Musk, and the billionaire wrecking crew. Unless you are in that club able to pay the price then you are cheering for nothing.

 
 
 
Greg Jones
Professor Participates
9  Greg Jones    3 weeks ago

Where did you get your degree in economics?

 
 
 
Vic Eldred
Professor Principal
10  author  Vic Eldred    3 weeks ago

edward-r-murrow-lights-cigarette-for-cbs-photo-archive-canvas-print.jpg
It's that time again.

"Good night and good luck."

 
 
 
Thomas
PhD Guide
10.1  Thomas  replied to  Vic Eldred @10    3 weeks ago

[]

 
 
 
Greg Jones
Professor Participates
11  Greg Jones    3 weeks ago

It's really very simple. Trump is attempting to level the playing field after our adversaries and even some of our supposed allies have taken an unfair advantage for decades.

rus040325dAPR-800x0.jpg

 
 
 
TᵢG
Professor Principal
11.1  TᵢG  replied to  Greg Jones @11    3 weeks ago
Trump is attempting to level the playing field after our adversaries and even some of our supposed allies have taken an unfair advantage for decades.

It is appropriate to use a cartoon because this is just beyond naive.   Pathetically so.

A trade deficit with an individual nation is not in itself bad.   If we have a trading partner that supplies us with what we need at a price that is better than what we can produce domestically, it is valuable to both consumers and the GDP (lower costs of production) to buy from the partner.   The partner is not 'ripping us off', we have chosen to buy from them.

Trump is an idiot.   His absurdly simplistic notion that trade must be balanced with each nation is not only economically flawed, but it is next to impossible to achieve.

The only part of this that Trump has correct is that in aggregate it is better for the USA to have a trade surplus rather than a trade deficit.   That strengthens the USA dollar and increases our independence.   If that can be achieved as part of a sensible, long-term strategy then that would actually be a good move.   But this brain-dead-stupid notion that balance must be achieved for each nation individually (not in aggregate) and achieved in the short-term, and achieved through threats and punitive across-the-board tariffs is the most irresponsible and unnecessary act I have seen taken by a PotUS.

Trump supporters who think Trump is doing good need to stop listening to his bullshit and do some actual learning about trade and tariffs.

In the meantime, your 'genius' PotUS is doing serious harm to our economy and international relationships.   Some of this damage is going to take many years to repair (if ever).   Quit supporting / quit defending this buffoon.

 
 
 
Right Down the Center
PhD Guide
11.2  Right Down the Center  replied to  Greg Jones @11    3 weeks ago

While it may be worthwhile in theory Trump may have overplayed his hand and didn't correctly understand the pushback. By doing it to all countries at the same time the United states has become the common enemy.  If I were one of the countries I would form an alliance with some of the other countries and give higher tariffs right back.  Than I would sit back and wait while prices go up and the stock market crashes.  I seem to recall many people were not willing to buy into the inflation is transitory bullshit, I will be surprised I Donald gets alot of leeway from people since he ran on curbing inflation.

 
 
 
TᵢG
Professor Principal
11.2.1  TᵢG  replied to  Right Down the Center @11.2    3 weeks ago
While it may be worthwhile in theory ...

Under what theory is a broad-scope across-the-board set of tariffs considered smart?

Explain this to us all.

 
 
 
Right Down the Center
PhD Guide
11.2.2  Right Down the Center  replied to  TᵢG @11.2.1    3 weeks ago

[]

 
 
 
Buzz of the Orient
Professor Expert
11.2.3  Buzz of the Orient  replied to  Right Down the Center @11.2    3 weeks ago

Trump has taught the other nations of the world that the USA is unreliable, and that they must diversify and expand their sources and customer base.  He has, IMO, by imposing exaggerated protectionism given China a tremendous boost as a partner of and in a growing multilateral trading world.

 
 
 
Right Down the Center
PhD Guide
11.2.4  Right Down the Center  replied to  Buzz of the Orient @11.2.3    3 weeks ago

It would not be surprising if they were thinking in those terms.  Some may be willing to see how it goes in the next several months and see if the stock market and prices increasing will pressure Trump to head in a different direction.  He may have thought this would bring them to the negotiating table but doing all countries at once may only make other countries look to each other.  What is does show is a country should not be overly reliant on any other country.  China comes to mind.  If anyone is reliant on them it would be easy to screwed if China decided to squeeze them. 

 
 
 
Right Down the Center
PhD Guide
11.2.5  Right Down the Center  replied to  TᵢG @11.2.1    3 weeks ago
Under what theory is a broad-scope across-the-board set of tariffs considered smart?

I never said it was.

 
 
 
Buzz of the Orient
Professor Expert
11.2.6  Buzz of the Orient  replied to  Right Down the Center @11.2.4    3 weeks ago

It's okay, I fully understand why it's so important for America to make China the 'bad guy'.  

 
 
 
TᵢG
Professor Principal
11.2.7  TᵢG  replied to  Right Down the Center @11.2.5    3 weeks ago
I never said it was.

The pathetic pedantic tactic when busted.

RdtC@11.2While it may be worthwhile in theory ...

Under what theory is a broad-scope across-the-board set of tariffs considered smart worthwhile?

 
 
 
Right Down the Center
PhD Guide
11.2.8  Right Down the Center  replied to  TᵢG @11.2.7    3 weeks ago

Try again. I wasn't talking about a broad-scope across-the-board set of tariffs when referring to "in theory "

 
 
 
Right Down the Center
PhD Guide
11.2.9  Right Down the Center  replied to  Buzz of the Orient @11.2.6    3 weeks ago

Not my point but feel free to go with it

 
 
 
Buzz of the Orient
Professor Expert
11.2.10  Buzz of the Orient  replied to  Right Down the Center @11.2.9    3 weeks ago

It it walks like a duck, and it talks like a duck.......

 
 
 
Greg Jones
Professor Participates
11.2.11  Greg Jones  replied to  Buzz of the Orient @11.2.6    3 weeks ago

Because they are the bad guy.

 
 
 
Buzz of the Orient
Professor Expert
11.2.12  Buzz of the Orient  replied to  Greg Jones @11.2.11    3 weeks ago

And what are your logical reasons for arriving at that conclusion.  Do you have any personal knowledge to back up your opinion, or are you simply relying on the misinformation, disinformation, deliberate lies that you read.  Have you ever been to China to see for yourself?

 
 
 
TᵢG
Professor Principal
11.2.13  TᵢG  replied to  Right Down the Center @11.2.8    3 weeks ago
I wasn't talking about a broad-scope across-the-board set of tariffs when referring to "in theory "

Well that is what Trump just did.   So you now want to claim that you were not talking about what Trump did?

Another feeble tactic.

Under what theory are Trump's tariff actions (what he actually did) considered worthwhile?

 
 
 
Right Down the Center
PhD Guide
11.2.14  Right Down the Center  replied to  Buzz of the Orient @11.2.10    3 weeks ago

4blz3h.jpg

 
 
 
Right Down the Center
PhD Guide
11.2.15  Right Down the Center  replied to  TᵢG @11.2.13    3 weeks ago

Once again you insist I explain a comment I never made.  Such a feeble tactic.

Take a look at the post I was responding to, especially the second part.  IN THEORY it would be nice if we were on a level playing field.  The rest of the post that you conveniently ignored says why I don't think the way Trump did it (across the board tariffs) will yield the fruits he was planning on.

 
 
 
Sean Treacy
Professor Principal
11.2.16  Sean Treacy  replied to  Buzz of the Orient @11.2.6    3 weeks ago
t's so important for America to make China the 'bad guy'.  

China's actions make it the bad guy. Ask its neighbors.  We all have access to the news. 

 
 
 
TᵢG
Professor Principal
11.2.17  TᵢG  replied to  Right Down the Center @11.2.15    3 weeks ago

Denying what you wrote is not going to accomplish anything good.

RdtC@11.2 ☞ While it may be worthwhile in theory Trump may have overplayed his hand and didn't correctly understand the pushback.

Explain the theory where it is worthwhile for Trump to impose tariffs as he has done.

 
 
 
Right Down the Center
PhD Guide
11.2.18  Right Down the Center  replied to  TᵢG @11.2.17    3 weeks ago
Denying what you wrote is not going to accomplish anything good.

IN THEORY it would be nice if we were on a level playing field. You jumped to a conclusion that was not correct.[]

 
 
 
charger 383
Professor Silent
11.3  charger 383  replied to  Greg Jones @11    3 weeks ago

We have been playing too nice and too easy for too long.

 
 
 
Vic Eldred
Professor Principal
12  author  Vic Eldred    3 weeks ago

President Donald Trump's "Art of the Deal" appears to be playing out right before our eyes, as multiple countries now want to charge the U.S. zero tariffs in exchange for the same in America's market.

And the president has indicated he's open to that.

Trump's 'Art of the Deal' Tariff Strategy Working: Countries Want to Cut to Zero

 
 
 
charger 383
Professor Silent
12.1  charger 383  replied to  Vic Eldred @12    3 weeks ago

Seems trade with the USA is important enough to get concessions after all 

 
 
 
Vic Eldred
Professor Principal
12.1.1  author  Vic Eldred  replied to  charger 383 @12.1    3 weeks ago

It appears that the party is over.

Trump holds the big card: America's market.

 
 
 
TᵢG
Professor Principal
12.1.2  TᵢG  replied to  Vic Eldred @12.1.1    3 weeks ago
Trump holds the big card: America's market.

He always had that card (big stick).   The problem is how he has stupidly used it and unnecessarily caused long-term damage.   see @12.3.4

 
 
 
TᵢG
Professor Principal
12.2  TᵢG  replied to  Vic Eldred @12    3 weeks ago

Trump is all over the map.   He claimed that tariffs were going to bring in all sorts of revenue to fund his initiatives.   Now he is happy to have zero tariffs?

I am all for Trump backing away from his tariffs and I do not care why it is done.   I just hope that this story ends up being true.   His tariffs are brain-dead stupid and have already caused damage that will not simply be erased by Trump backing off.   But the sooner he backs off, the sooner the damage can start to be reversed.

 
 
 
Vic Eldred
Professor Principal
12.2.1  author  Vic Eldred  replied to  TᵢG @12.2    3 weeks ago

I'm assuming that not every country will agree to a zero-tariff policy, but I think it will be interesting to see how the EU goes. I agree with what Trump said about them. 

It shall be interesting.

 
 
 
TᵢG
Professor Principal
12.2.2  TᵢG  replied to  Vic Eldred @12.2.1    3 weeks ago
I'm assuming that not every country will agree to a zero-tariff policy, but I think it will be interesting to see how the EU goes.

I can only hope that the other nations are more sensible than Trump.   That they will be the adults in the room and negotiate a sensible end to this idiocy.

 
 
 
Vic Eldred
Professor Principal
12.2.3  author  Vic Eldred  replied to  TᵢG @12.2.2    3 weeks ago
I can only hope that the other nations are more sensible than Trump. 

That may be easier said than done, especially for nations that made it impossible for US auto makers to sell cars in their countries.

 
 
 
TᵢG
Professor Principal
12.2.4  TᵢG  replied to  Vic Eldred @12.2.3    3 weeks ago
That may be easier said than done, especially for nations that made it impossible for US auto makers to sell cars in their countries.

You cannot force a nation to buy US products.   Even if Europe dropped tariffs on U.S. automobiles, that wouldn’t suddenly surge a US market.  European consumers already have strong preferences for local brands, and U.S. cars often don’t align with their tastes or environmental standards.

And then, add to that the collateral damage that Trump needlessly generated with his reckless tariff policies.   Do you really think Europeans are open to buying US cars?  Maybe over time, but almost certainly NOT while Trump is PotUS.

 
 
 
Buzz of the Orient
Professor Expert
12.3  Buzz of the Orient  replied to  Vic Eldred @12    3 weeks ago

"Not so fast, Louie."  There are still nations that have the balls to stand firm and fight back.  The "bully" tactic hasn't brought Canada or China to its knees for example, and let's see what the EU does.   

 
 
 
Vic Eldred
Professor Principal
12.3.1  author  Vic Eldred  replied to  Buzz of the Orient @12.3    3 weeks ago

I'm thinking that Canada bends and that means giving up those barriers on dairy products. I'll put China in the resist category. As for the EU, I want them brought to their knees.

BTW Buzz, I know you like good jokes and I heard one today from a car dealer, believe it or not:

Putin visits a Russian elementary school. He sits with 6th graders and asks if there are any questions the students would like to ask. Dimitri raises his hand and asks why Putin invaded Ukraine. Suddenly the lunch bell went off and all the students went to lunch. Afterwards they returned to class, where Putin said "Where were we, oh yes, are there any questions?"  This time Alexander raised his hand and Putin called on him. Alexander said I have 3 questions: 1) why did you invade Ukraine?  2) Why did we have lunch an hour early?  and 3) What happened to Dimitri?

 
 
 
TᵢG
Professor Principal
12.3.2  TᵢG  replied to  Buzz of the Orient @12.3    3 weeks ago

The problem is that Trump has inflicted damage that is not going to be repaired by any deal.   His tariffs are akin to taking a sledgehammer to someone's car to get them to stop parking in your spot.  Far better to engage in private negotiation with the sledgehammer in one's hand.

Per Canada, for example, even if Trump backed off on all the tariffs he imposed, Canada as our close friend and trading partner is diminished (how much, hard to say).   Canadians, appropriately, have lost trust in the USA and even after Trump is gone will not be as trusting because the USA electorate has shown that we are stupid enough to elect this clown as PotUS and thus could elect another irresponsible buffoon as PotUS.

 
 
 
Vic Eldred
Professor Principal
12.3.3  author  Vic Eldred  replied to  TᵢG @12.3.2    3 weeks ago

I don't know if you recall, but Trump recently took questions on Air Force One. Somebody asked why he hit every country with tariffs the way he did. Trump told the reporter that if he asked countries to consider renegotiating trade deals, sort of as a favor, they would have said no. This way they suddenly want to do us a favor.  

I liked that answer.

 
 
 
TᵢG
Professor Principal
12.3.4  TᵢG  replied to  Vic Eldred @12.3.3    3 weeks ago

Step one:  engage a nation in private discussion towards a trade deal.

Step two:  if the nation says 'no', privately threaten tariffs (or whatever).   This is showing the big stick.

Step three:   If the nation continues to say 'no' then (if Trump wants to play this tariff game) privately state the terms of the tariff and when they will be applied.

Step four:   If the nation continues to say 'no' then publicly announce the terms of the tariff.

Step five:   If the nation does not bow to public pressure, impose the tariffs as promised.

Far better way to achieve desired results without alienating the planet and triggering global trade wars.

 
 
 
Vic Eldred
Professor Principal
12.3.5  author  Vic Eldred  replied to  TᵢG @12.3.4    3 weeks ago
Far better way to achieve desired results without alienating the planet and triggering global trade wars.

You want the US to be liked?

 
 
 
TᵢG
Professor Principal
12.3.6  TᵢG  replied to  Vic Eldred @12.3.5    3 weeks ago

Of course!   But that is NOT the point.  

I did not expect to get an honest answer which deals with what I posted; so no surprise.

 
 
 
Vic Eldred
Professor Principal
12.3.7  author  Vic Eldred  replied to  TᵢG @12.3.6    3 weeks ago
Of course!  

There is an old Latin saying that I believe comes from a Roman Senator:

Melius est odi et respexi quam placere et stultus fieri.

 
 
 
TᵢG
Professor Principal
12.3.8  TᵢG  replied to  Vic Eldred @12.3.7    3 weeks ago

And my argument is that it is best to get what you want while minimizing adverse effects.

As I noted by example:   His tariffs are akin to taking a sledgehammer to someone's car to get them to stop parking in your spot.  Far better to engage in private negotiation with the sledgehammer in one's hand.

 
 
 
Buzz of the Orient
Professor Expert
12.3.9  Buzz of the Orient  replied to  Vic Eldred @12.3.1    2 weeks ago

jrSmiley_91_smiley_image.gif Vic, I just noticed this, I hadn't gone down far enough on my "Track" list for days.  

 
 
 
Buzz of the Orient
Professor Expert
12.3.10  Buzz of the Orient  replied to  TᵢG @12.3.2    2 weeks ago
"Canadians, appropriately, have lost trust in the USA and even after Trump is gone will not be as trusting because the USA electorate has shown that we are stupid enough to elect this clown as PotUS and thus could elect another irresponsible buffoon as PotUS."

Trust is a very fragile entity, and as a Canadian I know that my personal feelings of my nation being betrayed and ridiculed by an American PotUS will not fade, and I am a typical Canadian. 

 
 
 
Buzz of the Orient
Professor Expert
12.3.11  Buzz of the Orient  replied to  Vic Eldred @12.3.3    2 weeks ago
"Trump told the reporter that if he asked countries to consider renegotiating trade deals, sort of as a favor, they would have said no."

Bullshit!!!  Trudeau went to Washington to negotiate with Trump, and then spent 1.3 billion dollars beefing up the border, purchased Blackhawks to patrol and apponted a person to specifically focus on and improve border security. That wasn't good enough, because the man who seems to control the brains of his supporters went ahead and slapped Canada's face with insults and tariffs. 

 
 
 
Right Down the Center
PhD Guide
12.3.12  Right Down the Center  replied to  Buzz of the Orient @12.3.10    2 weeks ago

Interesting.  I never realized Canadians were so thin skinned.  I am the typical American and I really don't care who other countries vote in as their leader and what they say about us.  It is up to our government to deal with them no matter who they are, not me.

I will say that when I went to Quebec Americans were not liked very much and often would only speak French to us.  That was several years ago, maybe it is still true there.  

 
 
 
Buzz of the Orient
Professor Expert
12.3.13  Buzz of the Orient  replied to  TᵢG @12.3.4    2 weeks ago
"Far better way to achieve desired results without alienating the planet and triggering global trade wars."

A lesson too late for the learning.  The ignoramus' goal was to be theatrical.

 
 
 
Buzz of the Orient
Professor Expert
12.3.14  Buzz of the Orient  replied to  Vic Eldred @12.3.7    2 weeks ago
"Melius est odi et respexi quam placere et stultus fieri."

And you are aware, of course, of the demise of the Roman Empire. 

 
 
 
Buzz of the Orient
Professor Expert
12.3.15  Buzz of the Orient  replied to  TᵢG @12.3.8    2 weeks ago
"And my argument is that it is best to get what you want while minimizing adverse effects."

It's no use, TiG, you can't expect the Trump infection to be easily cured. 

 
 
 
Buzz of the Orient
Professor Expert
12.3.16  Buzz of the Orient  replied to  Right Down the Center @12.3.12    2 weeks ago
"I really don't care who other countries vote in as their leader and what they say about us."

As a Canadian I don't give a shit what he or others SAY about us, but I DO give a shit when they deliberately try to HARM us.  The last laugh is going to be when Americans realize how much the one THEY voted in is going to HARM you and them.. 

 
 

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