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Quick, somebody tell trump that his tariffs ARE NOT working
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Jul 18, 2019 06:09:25   #
factnotfiction
 
Despite the unstable genius continuing to make the absurd claim that China is paying for his tariffs, the reality is the tariffs are not working as planned.

Perhaps trump, kudlow, and the usual uninformed rightwingnut media should actually visit the communities that are being affected by the trump silliness.


*************************************************************************************

A year and a half into President Donald Trump’s aggressive experiment with tariffs, it’s worth assessing whether they’ve accomplished what Trump said they would.

The answer, unsurprisingly, is no.

Before explaining why, it’s worth asking a question: Does anybody recall the point of the tariffs Trump has imposed on imports from major trading partners — worth hundreds of billions of dollars?

It’s not to hurt the Chinese economy, or to boost the economies of other low-cost producers such as Vietnam or Mexico. Both of those things are happening, and Trump is bragging about them— but neither development does anything to help Americans.

The stated purpose of Trump’s tariffs is to force more production in the United States, by making imported products more expensive. And with a meaningful amount of data now available, there’s little evidence the Trump tariffs have spurred substantial U.S. production.

‘Paltry’ job creation
Recently, Moody’s Analytics analyzed the effect of the Trump tariffs on steel and aluminum, which went into effect Jun 1, 2018.

Trump levied a 10% tariff on about $17 billion worth of aluminum imported annually, and a 25% tariff on $33 billion worth of imported steel. Making imported metals more expensive should have boosted U.S. production and employment in the protected industries.

It didn’t. U.S. steel production was rising before the tariffs, and it rose by about the same rate after the tariffs went into effect, before flattening out in recent months. Aluminum production ticked up after the tariffs hit, but they flattened out as well.

Employment in the protected industries was rising before the tariffs, and those industries have added 16,730 jobs during the 13 months’ of tariffs. Yet Moody’s Analytics calls that number “paltry,” in a total labor force number 151 million.

In Gary, Indiana, the city most dependent on steel, only 250 jobs were gained during the 13-month period. Owensboro, Ky., which is most dependent on aluminum, gained just 60 jobs.

Industry stocks tell a more troubling story, with Nucor (NUE) down 15% during the last 12 months, AK Steel (AKS) down 52% and US Steel (X) down 59%. The S&P 500 Index (^GSPC) was up 6% during that time. As for aluminum producers, Alcoa (AA) and Century Aluminum (CENX) are both down 52%.

“The tariffs did not do much for protected industries,” Moody’s Analytics economist Maria Cosma wrote in a July 17 report. “The largest impact has been retaliation from U.S. trading partners, which has particularly hurt agricultural producers.”

China, in particular, has slashed purchases of U.S. soybeans, pork and other farm products, with that trade dispute escalating this year. That has hurt US farm income and threatened Trump’s political support in key rural states.

Trump has boasted about all the revenue taken in from the tariffs. But government figures show the Trump administration has dispersed more in aid meant to compensate farmers for trade difficulties than it the government has taken in from tariffs.

There’s a bit of better news. The tariffs also have not dramatically harmed industries that have to pay more for materials because the Trump tariffs have pushed costs up. That includes automakers, who must pay higher prices for steel, aluminum and other newly tariffed products.

Tariffs have also not generated higher than normal inflation, as some analysts predicted. So on the whole, the Trump tariffs have hurt U.S. farmers, who have gotten federal bailouts, without causing much additional harm or good, so far.

When does the winning begin?

Written by Rick Newman

Reply
Jul 18, 2019 06:37:27   #
America 1 Loc: South Miami
 
factnotfiction wrote:
Despite the unstable genius continuing to make the absurd claim that China is paying for his tariffs, the reality is the tariffs are not working as planned.

Perhaps trump, kudlow, and the usual uninformed rightwingnut media should actually visit the communities that are being affected by the trump silliness.


*************************************************************************************

A year and a half into President Donald Trump’s aggressive experiment with tariffs, it’s worth assessing whether they’ve accomplished what Trump said they would.

The answer, unsurprisingly, is no.

Before explaining why, it’s worth asking a question: Does anybody recall the point of the tariffs Trump has imposed on imports from major trading partners — worth hundreds of billions of dollars?

It’s not to hurt the Chinese economy, or to boost the economies of other low-cost producers such as Vietnam or Mexico. Both of those things are happening, and Trump is bragging about them— but neither development does anything to help Americans.

The stated purpose of Trump’s tariffs is to force more production in the United States, by making imported products more expensive. And with a meaningful amount of data now available, there’s little evidence the Trump tariffs have spurred substantial U.S. production.

‘Paltry’ job creation
Recently, Moody’s Analytics analyzed the effect of the Trump tariffs on steel and aluminum, which went into effect Jun 1, 2018.

Trump levied a 10% tariff on about $17 billion worth of aluminum imported annually, and a 25% tariff on $33 billion worth of imported steel. Making imported metals more expensive should have boosted U.S. production and employment in the protected industries.

It didn’t. U.S. steel production was rising before the tariffs, and it rose by about the same rate after the tariffs went into effect, before flattening out in recent months. Aluminum production ticked up after the tariffs hit, but they flattened out as well.

Employment in the protected industries was rising before the tariffs, and those industries have added 16,730 jobs during the 13 months’ of tariffs. Yet Moody’s Analytics calls that number “paltry,” in a total labor force number 151 million.

In Gary, Indiana, the city most dependent on steel, only 250 jobs were gained during the 13-month period. Owensboro, Ky., which is most dependent on aluminum, gained just 60 jobs.

Industry stocks tell a more troubling story, with Nucor (NUE) down 15% during the last 12 months, AK Steel (AKS) down 52% and US Steel (X) down 59%. The S&P 500 Index (^GSPC) was up 6% during that time. As for aluminum producers, Alcoa (AA) and Century Aluminum (CENX) are both down 52%.

“The tariffs did not do much for protected industries,” Moody’s Analytics economist Maria Cosma wrote in a July 17 report. “The largest impact has been retaliation from U.S. trading partners, which has particularly hurt agricultural producers.”

China, in particular, has slashed purchases of U.S. soybeans, pork and other farm products, with that trade dispute escalating this year. That has hurt US farm income and threatened Trump’s political support in key rural states.

Trump has boasted about all the revenue taken in from the tariffs. But government figures show the Trump administration has dispersed more in aid meant to compensate farmers for trade difficulties than it the government has taken in from tariffs.

There’s a bit of better news. The tariffs also have not dramatically harmed industries that have to pay more for materials because the Trump tariffs have pushed costs up. That includes automakers, who must pay higher prices for steel, aluminum and other newly tariffed products.

Tariffs have also not generated higher than normal inflation, as some analysts predicted. So on the whole, the Trump tariffs have hurt U.S. farmers, who have gotten federal bailouts, without causing much additional harm or good, so far.

When does the winning begin?

Written by Rick Newman
Despite the unstable genius continuing to make the... (show quote)


For Trump there’s only one metric that shows whether the U.S. is winning or losing the economic scrum with China: the bilateral trade balance. The number still shows he’s behind by a large margin, but the trade deficit with China has indeed narrowed in recent months.
Critics say Trump’s tariffs will drive up prices for American consumers, but so far it’s not happening broadly.
https://www.bloomberg.com/graphics/2019-us-china-who-is-winning-the-trade-war/

Most of the U.S. deficit results from American enthusiasm for imported consumer products and automobiles. In 2018, the United States imported $648 billion in drugs, televisions, clothing, and other household items. It only exported $206 billion of these consumer goods. That alone added $442 billion to the deficit. America imported $372 billion worth of automobiles and parts, while only exporting $159 billion. That added another $214 billion to the trade deficit.
https://www.thebalance.com/trade-wars-definition-how-it-affects-you-4159973

The cracks in China's economy appear to be widening, with signs of weakening growth amid a background of trade tensions.
https://www.bbc.com/news/business-46755158

Reply
Jul 18, 2019 07:48:54   #
son of witless
 
factnotfiction wrote:
Despite the unstable genius continuing to make the absurd claim that China is paying for his tariffs, the reality is the tariffs are not working as planned.

Perhaps trump, kudlow, and the usual uninformed rightwingnut media should actually visit the communities that are being affected by the trump silliness.


*************************************************************************************

A year and a half into President Donald Trump’s aggressive experiment with tariffs, it’s worth assessing whether they’ve accomplished what Trump said they would.

The answer, unsurprisingly, is no.

Before explaining why, it’s worth asking a question: Does anybody recall the point of the tariffs Trump has imposed on imports from major trading partners — worth hundreds of billions of dollars?

It’s not to hurt the Chinese economy, or to boost the economies of other low-cost producers such as Vietnam or Mexico. Both of those things are happening, and Trump is bragging about them— but neither development does anything to help Americans.

The stated purpose of Trump’s tariffs is to force more production in the United States, by making imported products more expensive. And with a meaningful amount of data now available, there’s little evidence the Trump tariffs have spurred substantial U.S. production.

‘Paltry’ job creation
Recently, Moody’s Analytics analyzed the effect of the Trump tariffs on steel and aluminum, which went into effect Jun 1, 2018.

Trump levied a 10% tariff on about $17 billion worth of aluminum imported annually, and a 25% tariff on $33 billion worth of imported steel. Making imported metals more expensive should have boosted U.S. production and employment in the protected industries.

It didn’t. U.S. steel production was rising before the tariffs, and it rose by about the same rate after the tariffs went into effect, before flattening out in recent months. Aluminum production ticked up after the tariffs hit, but they flattened out as well.

Employment in the protected industries was rising before the tariffs, and those industries have added 16,730 jobs during the 13 months’ of tariffs. Yet Moody’s Analytics calls that number “paltry,” in a total labor force number 151 million.

In Gary, Indiana, the city most dependent on steel, only 250 jobs were gained during the 13-month period. Owensboro, Ky., which is most dependent on aluminum, gained just 60 jobs.

Industry stocks tell a more troubling story, with Nucor (NUE) down 15% during the last 12 months, AK Steel (AKS) down 52% and US Steel (X) down 59%. The S&P 500 Index (^GSPC) was up 6% during that time. As for aluminum producers, Alcoa (AA) and Century Aluminum (CENX) are both down 52%.

“The tariffs did not do much for protected industries,” Moody’s Analytics economist Maria Cosma wrote in a July 17 report. “The largest impact has been retaliation from U.S. trading partners, which has particularly hurt agricultural producers.”

China, in particular, has slashed purchases of U.S. soybeans, pork and other farm products, with that trade dispute escalating this year. That has hurt US farm income and threatened Trump’s political support in key rural states.

Trump has boasted about all the revenue taken in from the tariffs. But government figures show the Trump administration has dispersed more in aid meant to compensate farmers for trade difficulties than it the government has taken in from tariffs.

There’s a bit of better news. The tariffs also have not dramatically harmed industries that have to pay more for materials because the Trump tariffs have pushed costs up. That includes automakers, who must pay higher prices for steel, aluminum and other newly tariffed products.

Tariffs have also not generated higher than normal inflation, as some analysts predicted. So on the whole, the Trump tariffs have hurt U.S. farmers, who have gotten federal bailouts, without causing much additional harm or good, so far.

When does the winning begin?

Written by Rick Newman
Despite the unstable genius continuing to make the... (show quote)


So are we to do nothing to punish China for their crimes ?????

Reply
 
 
Jul 18, 2019 09:04:13   #
maxcorn
 
Am I the only one that has noticed that libs/socialists/facists and n**is are forever whimpering about any and everything Trump does? Barry was/is the worst,(a professional agitator), being to ever hold the office yet libs can't admit he was a dismal failure. To do so would mean they have to take responsibility for their unwise choice of v****g. We all know in a liberals mind its "never their fault", it's us deplorables who just refuse to follow them over a cliff.

Reply
Jul 18, 2019 09:49:21   #
Michael Rich Loc: Lapine Oregon
 
maxcorn wrote:
Am I the only one that has noticed that libs/socialists/facists and n**is are forever whimpering about any and everything Trump does? Barry was/is the worst,(a professional agitator), being to ever hold the office yet libs can't admit he was a dismal failure. To do so would mean they have to take responsibility for their unwise choice of v****g. We all know in a liberals mind its "never their fault", it's us deplorables who just refuse to follow them over a cliff.



The sodimite Kenyan is the "community agitator" like a Maxine Waters type provocation specialist and do nothing for the same people they're agitating.

The "sodomy President" had a bigger voice than gorilla faced Waters.

Obama stirred up the world's jealousy against our predominantly white nation.

We have been blessed by the Almighty Creator like no other country.

So many fools in this nation lack the courage to fight for what's best for us.

The weak disposition of the person who started this thread, is a prime example of the modern American neutered male..."soyboy", who is shaking in his loafers because his type has sold their souls to a homosexual, who h**es this nation too.

The soyboys do not have the strength and personal fortitude to fight for our sovereignty.

They just hop in Obama's or Water's rickshaw for a spin around the block parroting hatred for our nation.

They have that give up and bend over to the world religion.

Reply
Jul 18, 2019 10:05:04   #
Dinty
 
byronglimish wrote:
The sodimite Kenyan is the "community agitator" like a Maxine Waters type provocation specialist and do nothing for the same people they're agitating.

The "sodomy President" had a bigger voice than gorilla faced Waters.

Obama stirred up the world's jealousy against our predominantly white nation.

We have been blessed by the Almighty Creator like no other country.

So many fools in this nation lack the courage to fight for what's best for us.

The weak disposition of the person who started this thread, is a prime example of the modern American neutered male..."soyboy", who is shaking in his loafers because his type has sold their souls to a homosexual, who h**es this nation too.

The soyboys do not have the strength and personal fortitude to fight for our sovereignty.

They just hop in Obama's or Water's rickshaw for a spin around the block parroting hatred for our nation.

They have that give up and bend over to the world religion.
The sodimite Kenyan is the "community agitato... (show quote)


I v**ed for Obama the first time. I saw where he was going and have v**ed Rep. ever since.

Reply
Jul 18, 2019 10:12:54   #
Michael Rich Loc: Lapine Oregon
 
Dinty wrote:
I v**ed for Obama the first time. I saw where he was going and have v**ed Rep. ever since.


Although I didn't v**e for Obama, I was actually for giving him a chance.

He soon proved that he wasn't worthy.

Reply
 
 
Jul 18, 2019 10:14:05   #
bylm1-Bernie
 
factnotfiction wrote:
Despite the unstable genius continuing to make the absurd claim that China is paying for his tariffs, the reality is the tariffs are not working as planned.

Perhaps trump, kudlow, and the usual uninformed rightwingnut media should actually visit the communities that are being affected by the trump silliness.


*************************************************************************************

A year and a half into President Donald Trump’s aggressive experiment with tariffs, it’s worth assessing whether they’ve accomplished what Trump said they would.

The answer, unsurprisingly, is no.

Before explaining why, it’s worth asking a question: Does anybody recall the point of the tariffs Trump has imposed on imports from major trading partners — worth hundreds of billions of dollars?

It’s not to hurt the Chinese economy, or to boost the economies of other low-cost producers such as Vietnam or Mexico. Both of those things are happening, and Trump is bragging about them— but neither development does anything to help Americans.

The stated purpose of Trump’s tariffs is to force more production in the United States, by making imported products more expensive. And with a meaningful amount of data now available, there’s little evidence the Trump tariffs have spurred substantial U.S. production.

‘Paltry’ job creation
Recently, Moody’s Analytics analyzed the effect of the Trump tariffs on steel and aluminum, which went into effect Jun 1, 2018.

Trump levied a 10% tariff on about $17 billion worth of aluminum imported annually, and a 25% tariff on $33 billion worth of imported steel. Making imported metals more expensive should have boosted U.S. production and employment in the protected industries.

It didn’t. U.S. steel production was rising before the tariffs, and it rose by about the same rate after the tariffs went into effect, before flattening out in recent months. Aluminum production ticked up after the tariffs hit, but they flattened out as well.

Employment in the protected industries was rising before the tariffs, and those industries have added 16,730 jobs during the 13 months’ of tariffs. Yet Moody’s Analytics calls that number “paltry,” in a total labor force number 151 million.

In Gary, Indiana, the city most dependent on steel, only 250 jobs were gained during the 13-month period. Owensboro, Ky., which is most dependent on aluminum, gained just 60 jobs.

Industry stocks tell a more troubling story, with Nucor (NUE) down 15% during the last 12 months, AK Steel (AKS) down 52% and US Steel (X) down 59%. The S&P 500 Index (^GSPC) was up 6% during that time. As for aluminum producers, Alcoa (AA) and Century Aluminum (CENX) are both down 52%.

“The tariffs did not do much for protected industries,” Moody’s Analytics economist Maria Cosma wrote in a July 17 report. “The largest impact has been retaliation from U.S. trading partners, which has particularly hurt agricultural producers.”

China, in particular, has slashed purchases of U.S. soybeans, pork and other farm products, with that trade dispute escalating this year. That has hurt US farm income and threatened Trump’s political support in key rural states.

Trump has boasted about all the revenue taken in from the tariffs. But government figures show the Trump administration has dispersed more in aid meant to compensate farmers for trade difficulties than it the government has taken in from tariffs.

There’s a bit of better news. The tariffs also have not dramatically harmed industries that have to pay more for materials because the Trump tariffs have pushed costs up. That includes automakers, who must pay higher prices for steel, aluminum and other newly tariffed products.

Tariffs have also not generated higher than normal inflation, as some analysts predicted. So on the whole, the Trump tariffs have hurt U.S. farmers, who have gotten federal bailouts, without causing much additional harm or good, so far.

When does the winning begin?

Written by Rick Newman
Despite the unstable genius continuing to make the... (show quote)



I'll tell you when the winning begins. It will begin when democrats quit trying to "get" Trump and join in the battle to attain e******y in the treatment by the Chicoms and other countries who are against us at every turn. Rick Newman is a Trump h**er from way back. How long have the tariffs been in effect? Maybe we can be a little more patient and give them a chance to work. The imbalance wasn't realized overnight and the cure won't be either.

Reply
Jul 18, 2019 10:17:24   #
Seth
 
maxcorn wrote:
Am I the only one that has noticed that libs/socialists/facists and n**is are forever whimpering about any and everything Trump does? Barry was/is the worst,(a professional agitator), being to ever hold the office yet libs can't admit he was a dismal failure. To do so would mean they have to take responsibility for their unwise choice of v****g. We all know in a liberals mind its "never their fault", it's us deplorables who just refuse to follow them over a cliff.



Reply
Jul 18, 2019 10:31:10   #
Seth
 
bylm1-Bernie wrote:
I'll tell you when the winning begins. It will begin when democrats quit trying to "get" Trump and join in the battle to attain e******y in the treatment by the Chicoms and other countries who are against us at every turn. Rick Newman is a Trump h**er from way back. How long have the tariffs been in effect? Maybe we can be a little more patient and give them a chance to work. The imbalance wasn't realized overnight and the cure won't be either.


Yes, the Democrats were a lot more patient with Obama, never once did they complain during the long, long eight years he took to screw America and Americans "six ways from Sunday," and to this day they still revere him for it.

As far as I'm concerned, Trump hasn't let me down yet, and the fact that he always delivers despite relentless, all encompassing obstruction and endless personal attacks and judicial stumbling blocks by Democrats, activist judges and the mainstream media tells me that even though some things take longer than others, they will get done.

Reply
Jul 18, 2019 10:36:03   #
Seth
 
byronglimish wrote:
...He soon proved that he wasn't worthy.


George Soros, ISIS, the Ayatollas and the far left would beg to differ with that statement.

Reply
 
 
Jul 18, 2019 10:44:57   #
moldyoldy
 
American business sold us out. Moving manufacturing off shore for cheaper labor. Giving up intellectual property to get access to China's markets. You can not put the genie back in the bottle.

Reply
Jul 18, 2019 10:51:05   #
Michael Rich Loc: Lapine Oregon
 
Seth wrote:
George Soros, ISIS, the Ayatollas and the far left would beg to differ with that statement.


You got that right!...they're all on the same "H**e America" team.

Reply
Jul 18, 2019 11:07:41   #
bylm1-Bernie
 
moldyoldy wrote:
American business sold us out. Moving manufacturing off shore for cheaper labor. Giving up intellectual property to get access to China's markets. You can not put the genie back in the bottle.



Congress sold us out by allowing the balance of trade to become so one-sided. They wanted to appear favorable to their constituents with lower prices. The Chinese were happy to capitulate. Sometime it is necessary to swallow a bitter pill to make things better. That is exactly what we are doing now. There is no genie and no bottle. Those trade numbers work both ways.

Reply
Jul 18, 2019 13:22:39   #
Michael Rich Loc: Lapine Oregon
 
bylm1-Bernie wrote:
Congress sold us out by allowing the balance of trade to become so one-sided. They wanted to appear favorable to their constituents with lower prices. The Chinese were happy to capitulate. Sometime it is necessary to swallow a bitter pill to make things better. That is exactly what we are doing now. There is no genie and no bottle. Those trade numbers work both ways.




Yeah but Larry O'Donnell and Rachell Mood-Cow (my dang spellchecker is so honest sometimes) but both of them told me "just give up, give in, there's no hope, take it like you've been programmed to".

The left is increasingly succumbing to s*******s l*****ts propaganda.

Reply
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