Trumps 2018 Tariffs destroyed 245,000 jobs

Discussion in 'Wall St. News' started by Pantalaimon, Apr 7, 2025.

  1. tony.m

    tony.m

    @themickey will you be voting for your fellow property investor Peter Dutton ?
     
    #21     Apr 8, 2025
  2. themickey

    themickey

    No mate, I'm done forever voting for either Liberals or Labor, both collude together to ensure Australia only has two predominant political party's, so they do everything in their power to rubbish the reputations any 3rd parties like Greens or Independants.
    Liberals and Labor we just seen it again this recent budget, "Oh let's subsidize homeowners once again, this time so they don't pay full price for solar batteries".
    What do renters get? 5/8 of FA as usual.
    Always the house owners who get subsidized by the taxpayer.
    Always pumping money into RE.
    Always bribing to buy votes a couple of weeks ahead of an election.
    Nup, never ever gonna vote for either of these two ahole party's again, never!
    I'll put them last on the voting form.
     
    #22     Apr 8, 2025
    tony.m and NoahA like this.
  3. zdreg

    zdreg

    People on welfare or employed by the gov't should not be allowed to vote. They will always vote for higher taxes to pay themselves.
     
    Last edited: Apr 8, 2025
    #23     Apr 8, 2025
  4. MarkBrown

    MarkBrown

    @Magna - please move to politics
     
    #24     Apr 8, 2025
  5. deaddog

    deaddog

    Unfortunately politics is Wall Street News right now.:(
     
    #25     Apr 8, 2025
  6. tony.m

    tony.m

    :thumbsup:
     
    #26     Apr 8, 2025
  7. Buy1Sell2

    Buy1Sell2

    FALSE
     
    #27     Apr 8, 2025
  8. comagnum

    comagnum

    TRUE! lets ask CHATGP

    The tariffs Trump imposed on Chinese goods in 2018 had a net negative effect on manufacturing jobs as well overall U.S. employment.

    ChatGPT said:
    You're correct—multiple studies have found that the tariffs imposed on Chinese goods during the Trump administration, particularly those introduced in 2018, had a net negative effect on U.S. manufacturing employment and overall economic activity.

    Here’s a summary of what the research and data have shown:

    Manufacturing Jobs
    • Intended goal: The tariffs were designed to protect American manufacturing by making imported Chinese goods more expensive.

    • Result: Any gains from increased domestic production were offset by higher input costs for U.S. manufacturers (especially in industries that rely on imported components).

    • A 2019 study by economists at the Federal Reserve and other institutions found no evidence that the tariffs increased manufacturing employment; instead, jobs were lost due to retaliatory tariffs and higher production costs.
    Overall Employment
    • Retaliation from China and other trading partners led to job losses in sectors like agriculture and exports, especially as U.S. goods became more expensive abroad.

    • A 2020 report from the Peterson Institute for International Economics estimated that the tariffs cost 245,000 U.S. jobs and reduced GDP slightly.

    • Consumers bore the cost: The tariffs functioned as a tax, raising prices on goods from electronics to clothing and hurting consumer spending.
    Tariff Costs
    • According to research from the National Bureau of Economic Research (NBER), nearly all of the tariff costs were passed on to U.S. importers and consumers—not Chinese exporters.
    Key Stats
    • U.S. manufacturing output stagnated or declined in several key sectors post-2018.

    • Job growth in affected industries was weaker than in those not impacted by the tariffs.

    • The overall trade deficit with China didn’t significantly improve either.
     
    #28     Apr 9, 2025
    gwb-trading likes this.