President Ronald Reagan: after Smoot and Hawley ‘we lived through a nightmare’. Photograph: Marcy Nighswander/Associated Press Willis Hawley (left) and Reed Smoot, co-sponsors of the Smoot-Hawley Tariff Act of 1930. Photograph: Alamy Stock Photo
zdreg said: tariffs are typical of countries in financial difficulties. the US is insolvent because of excessive debt. skip the hysterics. it is a more unbecoming behavior than your usual self.
Donald J. Trump ✔@realDonaldTrump If the E.U. wants to further increase their already massive tariffs and barriers on U.S. companies doing business there, we will simply apply a Tax on their Cars which freely pour into the U.S. They make it impossible for our cars (and more) to sell there. Big trade imbalance! 12:53 PM - Mar 3, 2018 I wonder how much insider trading goes on in the white house? https://www.washingtonpost.com/news...iser-dumped-millions-in-steel-related-stocks/
Yes, set a tax on the factories in South Carolina and Tennessee, those Europeans are going to pay! I wonder what's his opinion on why American brands have been declining in America itself?
Trade as a percentage of the global economy has been increasing over the years. I believe a change in the status quo of our trade agreements will cause dislocations even without retaliation. The reduced economic activity of the affected country will eventually affect us because they will buy less goods from another country, even if it is not us, and affect that country. In turn, that country will experience reduced economic activity and their demand can directly of indirectly affect the U.S. An effective solution would be to develop capital projects in the U.S. that have a positive long term return on them. An off-the-cuff example might be creating massive artificial reefs on our coasts. This would greatly encourage growth in seafood production and could provide some shoreline protection against storm waves. The extraction, manufacturing, and transportation of the materials necessary would create jobs, increased economic activity, and high value food that is very exportable. There probably would be ecological benefits as well. The key to trade and economic stability appears to be inceasing allocation of underutilized domestic resources in new positive returning capital projects rather than cutting back on U.S. market demand for foreign goods through legislation.
Martha Stewart was convicted for selling 230k worth of ImClone stock one day before the bad news. How is this different other than the amount here is bigger? Trump said himself that the biggest trades are insider's trades...
If the supply will be reduced due to taxes, prices for steel an aluminium the US will go up for all companies that use steel or aluminium. Export will become more expensive, read less competitive, and BOEING apparently seems to be the first victim in the US. Canada, Europe and also China already told there will be an adequate reaction. Soon a free trade zone allover tge world but without the US? We will see who gets hurt and what the US economy will do. Free trade is the key to prosperity. Trump is the worst president the US ever had. In German language the word Strumpf exists.