Crazy Trump's tariffs are backfiring on the U.S.

Trumpet

Trumpet

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So this is Trumponomics​

Trump's tariffs are backfiring on the U.S., Fed finds​

A new study from the Federal Reserve found that President Trump’s tariffs are backfiring.

According to the Fed study, the tariffs that went into effect in 2018 have led to not only higher producer prices but also a loss of jobs across the U.S. — particularly in manufacturing. A previous analysis also found that tariffs have cost the U.S. $42 billion so far.

“In terms of manufacturing employment, rising input costs and retaliatory tariffs each contribute to the negative relationship, and the contribution from these channels more than offsets a small positive effect from import protection,” the new Fed study stated. “For producer prices, the relative increases associated with tariffs are due solely to the rising input cost channel. We find little evidence for a relationship between industrial production and any of the three tariff channels considered.”


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Trump’s 25% tariffs are backfiring and threatening Gen Z’s trade career aspirations—putting car manufacturing jobs in peril​


“This is going to lead to the construction of a lot of plants, in this case auto plants,” Crazy Trump said upon announcing the tariffs in March. “You’re going to see numbers like you haven’t seen…in terms of employment. You’re going to have a lot of people making a lot of cars.”


But the goal to boost U.S. manufacturing work by alienating trading allies hasn’t panned out yet. In reality, most “American-made” vehicles aren’t completely manufactured in the U.S.; parts of these cars—including Ford, Toyota, and Honda—are assembled in Mexico or Canada before being finished in the states. Because of skyrocketing prices from Trump’s 25% tariffs, it’s estimated there will be between 10% and 20% fewer cars produced across North America, according to Cox Automotive. With a decline in demand, less workers would be needed to keep factories running.
 
Trumpet said:

So this is Trumponomics​

Trump's tariffs are backfiring on the U.S., Fed finds​

A new study from the Federal Reserve found that President Trump’s tariffs are backfiring.

According to the Fed study, the tariffs that went into effect in 2018 have led to not only higher producer prices but also a loss of jobs across the U.S. — particularly in manufacturing. A previous analysis also found that tariffs have cost the U.S. $42 billion so far.

“In terms of manufacturing employment, rising input costs and retaliatory tariffs each contribute to the negative relationship, and the contribution from these channels more than offsets a small positive effect from import protection,” the new Fed study stated. “For producer prices, the relative increases associated with tariffs are due solely to the rising input cost channel. We find little evidence for a relationship between industrial production and any of the three tariff channels considered.”


​

Trump’s 25% tariffs are backfiring and threatening Gen Z’s trade career aspirations—putting car manufacturing jobs in peril​


“This is going to lead to the construction of a lot of plants, in this case auto plants,” Crazy Trump said upon announcing the tariffs in March. “You’re going to see numbers like you haven’t seen…in terms of employment. You’re going to have a lot of people making a lot of cars.”


But the goal to boost U.S. manufacturing work by alienating trading allies hasn’t panned out yet. In reality, most “American-made” vehicles aren’t completely manufactured in the U.S.; parts of these cars—including Ford, Toyota, and Honda—are assembled in Mexico or Canada before being finished in the states. Because of skyrocketing prices from Trump’s 25% tariffs, it’s estimated there will be between 10% and 20% fewer cars produced across North America, according to Cox Automotive. With a decline in demand, less workers would be needed to keep factories running.
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The last three consecutive Republican administrations crashed the economy, now they are going for four in a row.
 
Tariffs can work in limited ways to protect certain industries. It's why unions, are often their Democratic supporters in office, supported them. But on the whole they have a negative impact on jobs and growth.

What's funny is how the politics have flipped. Prior to 2016, most Republicans weren't fans of tariffs while many Democrats supported them. Then Biden kept nearly all of Trump’s tariffs in place and even added more, yet Democrats barely said a word. Now that Trump is back in office, tariffs are suddenly bad again.
 
cawacko said:
Tariffs can work in limited ways to protect certain industries. It's why unions, are often their Democratic supporters in office, supported them. But on the whole they have a negative impact on jobs and growth.

What's funny is how the politics have flipped. Prior to 2016, most Republicans weren't fans of tariffs while many Democrats supported them. Then Biden kept nearly all of Trump’s tariffs in place and even added more, yet Democrats barely said a word. Now that Trump is back in office, tariffs are suddenly bad again.
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So is Trump's Tariff War good or bad for America?

skynews-putin-xi-kim-jong-un_7009722.jpg
 
One of the interesting things about being on a board like this for so long is seeing how things change over the years. In 2008 uscitizen (old school heads will remember him), a liberal leaning guy, started a thread about U.S. - China trade and how it supposedly cost over 2 million U.S. jobs.

In that thread someone wrote this:

You think this was an accident, or somehow all unintentional?

This was exactly what the wall street republicans, and corporate-sponsored Dems had in mind when the passed NAFTA, WTO, and China MFN.

A downward pressure on labor costs and wages in the United States.

People like Cawacko, Damocles, and Stuperfreak actually bought into the nonsense that William F Buckley, Ronald Reagan, George Bush, and Alan Greenspan were actually valiantly trying to improve the status, power, and wage potential of america's working middle class. Is it possible to be any more foolish that to believe scions of the conservative movement and america's rich investor were invested in improving the power and status of Joe and Jane working class american?
So then we get Trump, and people like Bernie, claiming these trade deals are screwing Americans and they ride that populist wave. And now these same folks complaining about free trade are complaining about tariffs and going after China etc. (except for when Biden does it).

Here is my question, and maybe I am missing something. For those on the left who complain about tariffs now, why the silence during the Biden years when he left them in place?
 
cawacko said:
Tariffs can work in limited ways to protect certain industries.
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That's certainly one use for them.
cawacko said:
It's why unions, are often their Democratic supporters in office, supported them.
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Have you noticed that unions are now starting to support Republicans (specifically the MAGA movement within the party)? Why do you think that is? Hint: tariffs (USA manufacturing)
cawacko said:
But on the whole they have a negative impact on jobs and growth.
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This statement shows an ignorance of how the USA became the "greatest nation on Earth". The USA had two "industrial revolutions". One during the early 1800s and another during the latter part of the 1800s. Tariffs were simultaneously a major source of revenue during both periods of time. Thus, tariffs did NOT have a negative impact on jobs and growth. Tariffs also didn't have any such "negative impact" during Trump's first term either (in which jobs increased and the economy grew).

History shows time and time again that tariffs are a GREAT thing for this country, and that this country has economically been at its strongest when it has implemented tariffs to the greatest extent.

This country's overall (very gradual) "downfall" (into worse economic times) didn't start to occur until after the "temporary" income tax was implemented in 1913 and money began to be increasingly siphoned from the pocketbooks of "Main Street" US citizens.

Stop believing the globalist elitist lies that "tariffs are bad" and that "tariffs are taxes on US consumers". It's all a load of garbage. Tariffs are GREAT for the USA and its consumers, and that's been proven time and time again throughout the USA's history.
cawacko said:
What's funny is how the politics have flipped. Prior to 2016, most Republicans weren't fans of tariffs while many Democrats supported them.
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This should have been a clue to you. Prior to 2016, most prominent Republicans were globalist elitist "RINO" types who didn't want tariffs fucking up their "pro-cheap-foreign-labor-engorged" pocketbooks... (e.g. Mitt Romney, Paul Ryan, John McCain, "Dubya", etc etc). However, AFTER 2016, a President who actually stands for We The People got elected and actually implemented the pro-USA-worker policies (such as tariffs) that had been missing for MANY decades (could even say over a whole century). He began to slow down the exfiltration of money from Main Street and shifted the money back towards the pocketbooks of Main Street.

This is why unions have, in recent history, supported Democrats (due to the pro-USA-worker perception of the party at the time). This is also why unions, as of now, are increasingly supporting Republicans (due to the recent MAGA-infused shift in the pro-USA-worker perception away from Democrats and towards Republicans).

If you want to WIN, then stick with the Main Street loving MAGA and their wonderful pro-USA-worker TARIFFS. If you want to LOSE, then stick with the cheap-foreign-labor-loving RINOs (aka Team Democrat).
cawacko said:
Then Biden kept nearly all of Trump’s tariffs in place and even added more, yet Democrats barely said a word.
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Correct.
cawacko said:
Now that Trump is back in office, tariffs are suddenly bad again.
Click to expand...
Correct.
 
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