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Will tariffs make America great?

Seen elsewhere:

Tariffs: The cause of, and the solution to, all farmer's problems this year.
 
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www.federalreserve.gov

Statement from Federal Reserve Chair Jerome H. Powell

Good evening. On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testi
www.federalreserve.gov

powell issues statement regarding grand jury subpoenas and theats of indictment, says it’s over his decisions on rate cuts being counter to trump’s wishes rather than actual crimes
 
And the law of unintended consequences kicks in yet again....

(not surprising, the US tariffs left the Chinese with a bit of over production (although really, not that much- the entire US market if they had simply closed the borders entirely to all Chinese exports would still only be a drop of only 13.6%!!!)
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www.oxfordeconomics.com

US-China trade relationship not as one sided as it appears

President Donald Trump announced new exemptions on his 125% reciprocal tariffs on China. Most high-tech imports will now see a reduction in tariff rates back to 20%.
www.oxfordeconomics.com www.oxfordeconomics.com

So the Chinese get a (brief) period of overproduction (which means TROTW gets slightly cheaper trade goods from China, thanks trumpy poopypants lol) while the US now has MAJOR holes in its economy- (think of how empty the shelves of almost all US stores would be if literally zero Chinese goods came into the country- shops like your Walmarts etc rely heavily on Chinese made goods...)
 
steenkh said:
But … but Biden left the economy in such a mess that it will take decades to correct! :duck:
Click to expand...
As usual, EVERY accusation is a confession....
Yes it WILL take decades to recover- from trump, not Biden...

(it's going to take a LONG time indeed before the US is ever trusted again- decades at the minimum...)

All thought of global leadership, thrown away by an orange manbaby.....
 
Now Trump is threatening the EU with 10% tariffs until they sell him Greenland.

ONCE AGAIN! Something he can't seem to get through his thick skull: Who pays these tariffs?? American importers pay these tariffs, not the foreign countries.

So Trump is threatening American importers with paying tariffs until the EU sells him Greenland. It's bonkers stuff. Mel Brooks had it right: "Don't shoot or the ◊◊◊◊◊◊ gets it!"

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Dabop said:
(it's going to take a LONG time indeed before the US is ever trusted again- decades at the minimum...)
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Yes. At a minimum the US needs to create real "checks and balances" rather than the symbolic ones they have had in place until now.

As a matter of fact, I believe all constitutions that allow a government to rule by decree without a time limit have this problem.
 
A German economics research institute published a study that claimed that foreign producers only absorbed 4 percent of the cost of tariffs. Americans paid the other 96 percent.

www.kielinstitut.de

America's own goal: Americans pay almost entirely for Trump’s tariffs

Contrary to US government rhetoric, the cost of US import tariffs are not borne by foreign exporters. Instead, they hit the American economy itself. Importers and consumers in the US bear 96 percent of the tariff burden, according to new research from the Kiel Institute for the World Economy.
www.kielinstitut.de www.kielinstitut.de
 
TellyKNeasuss said:
A German economics research institute published a study that claimed that foreign producers only absorbed 4 percent of the cost of tariffs. Americans paid the other 96 percent.

www.kielinstitut.de

America's own goal: Americans pay almost entirely for Trump’s tariffs

Contrary to US government rhetoric, the cost of US import tariffs are not borne by foreign exporters. Instead, they hit the American economy itself. Importers and consumers in the US bear 96 percent of the tariff burden, according to new research from the Kiel Institute for the World Economy.
www.kielinstitut.de www.kielinstitut.de
Click to expand...
I'm surprised that 4% is as high as it is (maybe they are accounting for possible lost sales???) as the tariffs are entirely 'local' to the US- basically 100% 'should' be paid by the importer (who is in the US) and that increased cost would almost certainly be passed on to the end consumer...

Anyone who thinks that the manufacturer is going to pay the US government a single cent is completely bonkers lol
 
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