Trump's Trade Collapse Falls on Many
I bought an Apple computer for a granddaughter last week. It cost more because of Trump's tariffs. Farmers' prices are lower because of Trump's tariffs. Will things ever get better?
Trump had complained China was stealing technology from the U.S. So far as I know these thefts continue. Technology has been stolen internationally and domestically since forever. It will continue so long as our companies profit from selling things to China. Companies know going into business relationships, either domestically or internationally, this happens.
It was as predictable as the sun coming up in the morning job losses would result from higher tariffs. Slowly confirmation of job losses is coming in, now confirmed by the Federal Reserve. Thus, fewer people are working and what they buy costs more. This is the classic lose-lose scenario.
I recall seeing an interview done several years before Trump got into politics. Back at that time Japan was sending goods to the U.S. like China is now. Trump was asked what he thought about Japanese imports. He got angry, not about the imports but about Japanese investors whom he had to compete with in buying properties. That is his interest in trade, how it affected his purchases. He did not seem to realize it also raised the values of what he already owned.
These property investors are what balance the trade imbalance. When we buy more than we sell those in another country have money to invest. Historically, the U.S. has received more of these investment funds than any other country.
Besides his own personal interests, Trump seemed to think raising tariffs was a smart political decision. It would be like him to accomplish nothing with China but claim he won big in the negotiations. Trade, income of farmers and consumer prices can be measured with considerable accuracy and, if current trends continue, it will be hard to say the country is better off when it is worse off.
We could go back to the good old days of the Clintons and Bidens making massive profits off of dealings with China. Or, we could hold China accountable while also prosecuting the Clintons and Bidens. I like the second option.
ReplyDeleteApple doesn't have to make their products in China. Make them in America and the tariff issues go away. YOU made the decision to buy an Apple; not the government. You could have purchased a Windows or Google machine. Did Trump make you purchase an Apple?
Matt "Did Trump made you purchase an Apple?" No, he made it more expensive for no reason at all. If the higher price contributed toward some worthy end, like if the purchase was taxed to pay for something that helped the general public the higher price would serve some purpose. As it is, it just leaves less money in the pockets of those who buy and lower prices for the farmers who sell.
ReplyDeleteSo, you contributed to the Chinese economy when you had a choice to buy an American made PC? You are the one who made it more expensive by purchasing it from the Chinese via Apple.
DeleteAs for the, "... for no reason at all." you fail to see the foreign policy side of the equation. Also, tariffs on Apple computers didn't go into effect until December 15, 2019. When did you purchase your gift? If you were smart, you bought it before December 15. Regardless, the Apple computers imported prior to December 15 were probably still in the supply chain even if you purchased yours on December 24. You didn't pay any tariff.
You failed to answer my point about the Bidens and Clintons, giving silent affirmation of their guilt in your eyes.
https://www.engadget.com/2019/08/13/us-tariffs-delayed-phones-consoles-monitors-laptops/
Matt--"You failed to answer my point about the Bidens and Clintons, giving silent affirmation of their guilt in your eyes."
DeleteI never heard how or when the Bidens and Clintons made "massive profits." Please provide proof of this from some source other than a propaganda source.
how do you define a propaganda source. seems to me that it's difficult these days to find an authentic bias free source.but perhaps Jon could name a few that meet his criteria of an prop free source.
DeleteWhen the source of proof is recent, public sources, I feel no need to make the case. Hillary, Bill, Joe and Hunter all have dirty hands with regards to China, Russia and the Ukraine.
DeleteMatt "When the source of proof is recent, public sources, I feel no need make the case."
DeleteI agree with that. I just have not seen those "public sources." I know the Hunter Binden was on a board in the Ukraine and received pay that seemed excessive. I have not seen that this position was used for underhanded political gain by the Ukraine or Biden's political career. Maybe is was, I haven't seen it. The Clintons probably got donations to their foundation from around the world. It is vetted by nonprofit monitoring groups. Some accusations were made on this blog there was questionable money use by that foundation but never any evidence.
If by "sources" you mean Republican political propaganda, yes there has been that.