Good summary for yesterdays actions by Trump: https://www.zerohedge.com/political/overview-trumps-day-one-executive-actions https://www.theepochtimes.com/artic...e=partner&utm_campaign=ZeroHedge#Name Changes
The problem with tariffs is they go both ways lol. Since the US relies more on imports than exports, these countries can just retaliate by raising the prices of their products, or impose export tariffs...the end result is the consumer will be paying more. It's like I bet you $100 to go streaking during a hockey game, and then you bet me $100 to go streaking during a football game...in the end we are just streaking for free lol.
It is more complex I learnt. There is a narrow path that USA can win any trade war. But they need to cut tax rates and government spending, then it can work without any too much inflation at all. You need to look on economic handbooks explaining the tariff mechanism and its consequences together with its exceptions when they are useful.
It's tit for tat lol...if a country charges China a 50% tariff on imported scented candles, then China will just raise the cost of scented candles 50%, and the companies importing the candles will pass on the added expense to the consumer.
Even you have only the traditional basic knowledge about tariff and its economic consequences, where a trade war cannot be won by no country. But the magnitude of losses are much different. And the USA is in the best position to loose much less than any other country in the world on a tariffs trade war, so this means that the USA will win very likely in any case RELATIVELY which puts them into a America first position again with distance to the other countries worldwide. And that is what counts (for Trump).
Let's just ask ChatGPT: The question of whether the U.S. can "win" a trade war with China is complex, as it depends on how one defines "winning" and the specific goals of the trade war. Here are several considerations: 1. Economic Impact on Both Sides: U.S. Economy: A trade war, particularly with a major trading partner like China, can lead to increased tariffs and prices on goods for U.S. consumers and businesses. U.S. industries that rely heavily on Chinese imports, such as technology, electronics, and retail, could face disruptions. Additionally, U.S. farmers and manufacturers have also experienced negative impacts, especially those relying on Chinese exports. Chinese Economy: Similarly, China would feel the pressure from tariffs and potential shifts in global supply chains. While China has a large domestic market, a prolonged trade conflict could dampen its economic growth, especially if it loses access to key technologies or faces reduced demand from the U.S. 2. Strategic Goals: Intellectual Property and Technology Transfer: The U.S. has expressed concerns about China’s intellectual property practices and forced technology transfers. A trade war could press China to make reforms in these areas, but it may take years to see substantive changes. Trade Deficits: The U.S. has long been concerned about its trade deficit with China. While reducing this deficit may be a goal of the trade war, doing so could harm American consumers and businesses if tariffs lead to higher prices or disrupt supply chains. Geopolitical and Economic Repositioning: The U.S. might also be using the trade war to push China into greater compliance with international trade norms or to limit China’s rise as a global economic power. 3. Long-Term Impact: A prolonged trade war could lead to a shift in global trade dynamics. Countries may seek to reduce dependence on China or the U.S. by diversifying their supply chains or entering into alternative trade agreements. While the U.S. may gain some advantages in terms of reshoring manufacturing or limiting China’s economic influence, there are also risks in terms of global supply chain disruptions and reduced global economic growth. 4. International Alliances: The U.S. could strengthen alliances with other countries to pressure China into making concessions. However, this could lead to geopolitical tensions and potentially align countries into competing economic blocs. On the other hand, China might try to strengthen its own alliances, such as through the Belt and Road Initiative or trade agreements with other nations, thus reducing the impact of U.S. tariffs. 5. Market Reactions and Public Opinion: Stock markets, investors, and businesses generally dislike trade uncertainty. Extended trade wars can create market volatility, which can harm the broader economy, especially if investor confidence is shaken. Public opinion can also influence the outcome. If the trade war leads to higher prices, job losses, or economic disruption, it could impact the political environment in both countries. Conclusion: The U.S. may achieve some of its goals, such as reforms to China’s trade practices or a reduction in the trade deficit, but whether it can "win" in the sense of achieving a net positive outcome depends on how one weighs short-term economic pain versus long-term strategic goals. The outcome of a trade war is not simply about who suffers less—it also involves a broader geopolitical and economic context that impacts global relations.
ChatGPT is kinda stupid like always, because it is not deep enough. You need your own knowledge and brain to make conclusions rather than asking ChatGPT or some basic common internet knowledge. https://worldpopulationreview.com/country-rankings/us-trade-deficit-by-country Country Trade Deficit 2023 China $279,424 Mexico $152,379 Vietnam $104,627 Germany $83,021 Japan $71,175 Canada $67,861 Ireland $65,342 South Korea $51,398 Taiwan $47,975 Italy $44,012 Those countries have much more to loose in any trade war with tariffs than USA. So as long as the USA have higher tariffs than those countries against the USA in sum of all imported and exported goods, the USA will win relatively for sure. That puts America into a first position which is intended by the US President. There will be no way to not invest HEAVILY in the USA then for all those other countries and its companies inside exporting goods to USA.
The Great Depression was greatly impacted by trade protectionism and tariffs. I suppose one might say hey the Depression and WW2 ultimately helped the US become the #1 economy on the planet. But did you really want to go through that ? Surely there are better ways to grow your economy. Trump keeps bringing up Canada where there is absolutely no case for tariffs being a good thing. The trade is basically balanced services from the US for commodities from Canada. The price you pay for heavy Oil from Canada is dirt cheap by world standards. Trump keeps lying about new US sources they just don't exist on a cost basis ( US energy companies are already far less profitable operations then Canadian ones ). Biden drained half the SPR trying to suppress Oil prices. If Canada just said let's bite the bullet sell no Oil to the US it would be a short term headache for some Canadians but a long term win. American consumers would instantly get really expensive gas prices and that in itself may lead to people questioning tariffs. Trump is not unlike some of his supporters, he needs to experience some pain to realize why some of his policies are irrational.
code language for WXY to stop watching CNN fucking fake ass news.. Chat GPT is some liberal ass slanted shit also. Like AI knows shit about politics?