These MAGA people are the very definition of hard-core idiots. Nutcases who continue to support Trump as they lose their jobs, their crops rot in the fields and they go broke. 'Sometimes you have to walk through fire': Tariffs get backing in Trump heartland https://www.bbc.com/news/articles/cr4nr3230e7o?utm_source=firefox-newtab-en-us
'Batsh*t Crazy' Trump Tariffs Should Be Seen as $7,000 Tax Hike on Workers, Says Economist Instead of strategically imposing tariffs, Trump has chosen to "give the country the most massive tax increase in its history, possibly exceeding $1 trillion on an annual basis." https://www.commondreams.org/news/donald-trump-trade-war
Basically an end around the normal Republican claim that they will reduce tax rates AND lower the govt deficit.
It is going to get resolved far earlier than that. It is not like you can stop the flow of goods and keep it frozen? Those tariffed will start feeling the pain as more and more countries sign trade deals with the US. European Union, Canada, China will be the holdouts and will suffer huge blows to their economies. Their choice. Most countries will sign trade deals because they will benefit the most getting more exports to the US. Hardheads would be on the outside looking in. I hope they hold out for 1 whole year so that, their economies get destroyed in the process. China has huge tariffs on Europe. Let us see how the European Union fares being tariffed by both the US and China.
Quote of the Day: Suddenly the people who can't pay back their student loans are experts in tariffs and the stock market.
My line of thought today: Trump's tariffs are an assault on neoliberalism, and possibly the best economic action benefiting the environment one could hope to enact. Far more effective than anything the left has achieved for decades.
While these wide-scale high tariffs will hurt all economies likely leading to a global recession; they will hurt the U.S. economy worst than the economy of any other leading nation. The pain will be lopsided with the U.S. consumer, market, and economy suffering more than other nations. Nearly every single respected economist has stated this. This has been demonstrated throughout history in regards to the imposition of wide-scale high tariffs by a nation. A classic example in U.S. history is the Smoott-Hawley tariff - "the tariffs instead deepened the Depression because the U.S.'s trading partners retaliated with tariffs of their own, leading to U.S. exports and global trade plummeting. Economists and historians widely regard the act as a policy misstep, and it remains a cautionary example of protectionist policy in modern economic debates." We will see a variety of reactions to these U.S. Trump tariffs around the world. Vietnam is trying to propose a zero percent tariff for the U.S. if the Trump administration will drop the high tariff on Vietnam. China quickly responded with a mirror tariff. The EU and other leading nations appear to be on the verge of responding with mirror tariffs. This, of course, will simply be a repeat of the Smoot Hawley tariff fiasco with nations around the world simply retaliating -- which by the way is the best response to being bullied by the U.S. in regards to tariffs. This response my nearly all the leading trade partners will leave the U.S. economically isolated and drive an increase in trade among other nations accompanied by a steep decline of imports into the U.S. The Trump administration implementing wide-scale tariffs without critical thinking is a complete policy misstep from the U.S. government.
Funny how all the hacks coming out of the woodwork like termites and suddenly, proclaiming themselves experts telling us what will happen next. They are all idiots not to be taken seriously. When the trade deals are signed and more US jobs and exports result from it, these idiots will now say, they knew that was going to be the result of the US tariffs.