Trump Lowered Tariffs on China, Now Groceries
As many predicted, the dramatic tariff increases Trump said he levied have mostly been tanked. Chinese goods now have lower tariffs. Coffee and bananas which apparently Trump thought would be produced in the U.S. now have much lower tariffs.
Trump said a few years ago higher tariffs would cause more goods to be produced in the U.S. He said the Chinese would pay the tariffs by taking less payment themselves. Then he claimed the tariffs would produce federal revenue and lower our taxes. None of this happened. Trump seems to have lost interest in tariffs and moved on.
I've always wondered if Trump ever believed the benefits of tariffs he claimed were there. Or, did he get involved with tariffs because they brought lots of TV reporters to him and lots of screen time? I believe the screen time was the most important outcome for him. Really, one has to admit, he got the news media attention he wanted and thus he won. Tariffs have been good for him even as they have been terrible for the country.
Lots of things will return to something approaching "normal" except for farmers and others who made a living exporting to China. China has found other places to buy grain and one wonders if U.S. farmers will ever get back in the game.
Gay rights and abortion rights have been stabilized, so it seems. Liberals have done well in these things. Ultimately, Trump will be gone and farmers, and the rest of us, can once again have a future.
Comments
Post a Comment