Trumps Tariffs
- Thread starter p_rehbein
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Trump should have taken a basic economics course before running for office.
https://www.cbc.ca/player/play/video/9.6746465
https://www.cbc.ca/player/play/video/9.6746465
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" title="Trump deals with tariff blowback #Trump #trumptariffs #tradewar #puppetregime #satire #comedy" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Most of my purchases? Are you nuts? I have heard that trade with China has utterly crashed because of the tariffs. So few if any of my purchases will be impacted by tariffs. It may be that things I wanted to buy are not available. But it is highly unlikely that many of my purchases, much less most of them are going to be increased by tariffs. What is far more likely in my case is that none of my purchases will have increased taxes. I may wind up buying American made goods which might be slightly more expensive, but not due to Tariffs.
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There is another problem for China. If the US goal is even trade, where we sell as much as we buy there is a big problem. China used to buy US treasuries to balance the trade, but that is no longer. Also, much of the stuff they buy from us is to support their sales to us. So if their sales are reduced by 30% the stuff they buy from us will also be reduced by 30% and it still won't be balanced trade. Companies are figuring that out and they are also calculating that much of the items that China sells to other countries is destined to the US. So that also will be hit with tariffs. The point is that companies understand the goal is balanced trade and they realize that means almost no trade between the US and China. Hence, companies are pulling out in mass. That isn't simply jobs going and unemployment, and drop in domestic demand, it is also a collapse in foreign investment.
The bottom line is that China's economy without the US as a market is a 3rd world economy.
Their reputation has also been severely damaged recently with their "tofu dregs construction". The term "made in China" is again being equated with cheap junk.
The bottom line is that China's economy without the US as a market is a 3rd world economy.
Their reputation has also been severely damaged recently with their "tofu dregs construction". The term "made in China" is again being equated with cheap junk.
