I guess no one told him this is ironman
and he is going to take their guns
Can someone explain to me how those tariffs benefit anyone other than steel or aluminum manufacturers and how they don’t hurt everyone else (in the form of higher prices)?
No one who understands economics can.
Nope. Because that’s how it works.
It will hurt essentially EVERY SINGLE MANUFACTURER in the US. Every single one.
The important thing is it shows DJT is TOUGH ON TRADE!!!
#MAGA!!!
Got it?
It’s pretty simple. The previous presidents did nothing. This guy gave lip service to make some think he could somehow legislate market forces away so… they probably won’t even blame him when it fails because at least he tried.
What Trump’s budget office found was that these rules cost up to $4.9 billion to impose on businesses and resulted in up to $27.3 billion in benefits to the American people.
That means taxpayers got nearly six times as much in benefits as was spent regulating businesses.
And that, by any yardstick, is a hell of a good investment.
But to be fair, there’s no measuring the freedom that comes from dumping coal ash into streams.
The Tweet from Trump on how trade wars are good and an “easy win” is not only mind-boggling, it’s damn frightening, because pretty much even a first-year business student or international relations student or, really, anyone with any education knows that nothing in international trade policy is either easy or a guaranteed win, whatever that even means. And the idea that a trade war is somehow good for anyone other than companies handed a de-facto monopoly or artificially supported profits is, again, mind boggling to anyone with a lick of sense.
Yet here we have the president bloviating and, apparently, people actually believing him because somehow in the last few years actual empirical data has lost its appeal, to be replaced by wishful thinking, unicorns, and leprechaun politics.
Here it is. Hard to believe you could pack that much wrongness into one tweet:
Some one should tweet back, “So you don’t want foreigners buying US real estate?” since that’s a logical outcome of his trade isolationism.
Donnie is so dim-witted he can’t see his policies are against his own financial self-interest - another way he’s like his base.
(If the US is running a current account trade deficit. it means we’re importing more goods and services from foreign countries than we export. But trade must still balance; we must still somehow pay for those goods and services. If we’re not paying fully with goods and services, we must be doing it with other US assets: US dollars, US stocks and bonds, including government securities, or … US real estate. If the US were somehow to stop trading goods and services with foreign countries entirely, it would vastly curtail the abilities of foreigners to buy US real estate.)
It would also, rather obviously, massively increase the price of anything that relied on those imports in its supply chain.
Wasn’t that the name of the religious cult in Dead Space?
Close; that was Unitology
Beautiful clean coal.
Shame the average person in this country is too stupid to understand that (including the president).
This is not scary:
According to two officials, Trump’s decision to launch a potential trade war was born out of anger at other simmering issues and the result of a broken internal process that has failed to deliver him consensus views that represent the best advice of his team.
On Wednesday evening, the president became “unglued,” in the words of one official familiar with the president’s state of mind.
[…]
There were no prepared, approved remarks for the president to give at the planned meeting, there was no diplomatic strategy for how to alert foreign trade partners, there was no legislative strategy in place for informing Congress and no agreed upon communications plan beyond an email cobbled together by Ross’s team at the Commerce Department late Wednesday that had not been approved by the White House.No one at the State Department, the Treasury Department or the Defense Department had been told that a new policy was about to be announced or given an opportunity to weigh in in advance.