Tariffs Catch-All

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This is all so stupid. If you want to add more auto jobs (by US or foreigh companies) you are going to have to subsidize those given labor costs. Do what USG did in terms of investing from 1946-80, do a variation of Biden'sCHIPS/Infrasture Act, tax breaks, tax penalites, low interest loans.
Right now, tariffs will whach middle, working and poor classes to pay for tax cuts for rich and wealthy corps. Capt the tqx extention at first 5 million: Elon Musk, Peter Thiel and LeBrpn James do not need a tax break extension. Extend the copr tax cuts for large corps at 27% not 21, and use that to subsizize manuf jobs (auto, ship buolding if you wish)
Tariffs are the absolute worst form of industrialm policy, when done at these high levels
 
I know it's already been said here, but if someone wanted to deliberately tank the US economy and drive us into a deep recession (among other things) you couldn't be doing a better job of it than the Trump administration (and Elon and DOGE) since he took office in January. They're gleefully wrecking our international standing, literally turning all of our allies against us and isolating us, causing total chaos in the federal government, and wrecking the economy all at the same time. It's like a Bizarro presidency, where your success is measured by how much evil you do, not how much good. Many Trump voters have advocated "burning it all down" since 2016, well it appears that they're going to see just what that looks like, and it won't be pretty for any of us.

ETA: And of course by "burn it all down" they meant "as long as it doesn't affect me or my family directly." Unfortunately for them that's not how it works.
 
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heelslegup said:
This is all so stupid. If you want to add more auto jobs (by US or foreigh companies) you are going to have to subsidize those given labor costs. Do what USG did in terms of investing from 1946-80, do a variation of Biden'sCHIPS/Infrasture Act, tax breaks, tax penalites, low interest loans.
Right now, tariffs will whach middle, working and poor classes to pay for tax cuts for rich and wealthy corps. Capt the tqx extention at first 5 million: Elon Musk, Peter Thiel and LeBrpn James do not need a tax break extension. Extend the copr tax cuts for large corps at 27% not 21, and use that to subsizize manuf jobs (auto, ship buolding if you wish)
Tariffs are the absolute worst form of industrialm policy, when done at these high levels
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Or you remove one of the single largest non manufacturing costs to the car companies which is paying for healthcare for their employees by doing what the rest of the world has done and going to single payer.
 
uncgriff said:
Or you remove one of the single largest non manufacturing costs to the car companies which is paying for healthcare for their employees by doing what the rest of the world has done and going to single payer.
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And this is true of virtually every industry. Also, having HC tied to employment prevents a lot of people from moving into jobs/vocations where they would be happier, more fulfilled and valued.
 

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs​

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.

www.nytimes.com

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.
www.nytimes.com www.nytimes.com


“… Separately, China’s Ministry of Commerce said it was adding 11 American companies to its list of “unreliable entities,” essentially barring them from doing business in China or with Chinese companies.

The ministry imposed a licensing system to restrict exports of seven rare earth elements that are mined and processed almost exclusively in China and are used in everything from electric cars to smart bombs.

The commerce ministry also announced it was beginning two trade investigations into American exports of medical imaging equipment — one of the few manufacturing categories in which the United States remains internationally competitive.

… China’s General Administration of Customs said that it would halt chicken imports from five of America’s biggest exporters of agricultural commodities and sorghum imports from a sixth company.

… China imposed a two-month freeze on shipments of rare earths to Japan in 2010 during a territorial dispute.

The Obama administration responded by calling for the United States to restart its own mining and processing of rare earths, which mostly shut down in the 1990s. But 15 years after the Japan embargo, mining has resumed in the United States but most of the ore is shipped to China for processing into valuable materials, as rare earths refining has proved technically challenging.”
 
nycfan said:

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs​

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.

www.nytimes.com

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.
www.nytimes.com www.nytimes.com


“… Separately, China’s Ministry of Commerce said it was adding 11 American companies to its list of “unreliable entities,” essentially barring them from doing business in China or with Chinese companies.

The ministry imposed a licensing system to restrict exports of seven rare earth elements that are mined and processed almost exclusively in China and are used in everything from electric cars to smart bombs.

The commerce ministry also announced it was beginning two trade investigations into American exports of medical imaging equipment — one of the few manufacturing categories in which the United States remains internationally competitive.

… China’s General Administration of Customs said that it would halt chicken imports from five of America’s biggest exporters of agricultural commodities and sorghum imports from a sixth company.

… China imposed a two-month freeze on shipments of rare earths to Japan in 2010 during a territorial dispute.

The Obama administration responded by calling for the United States to restart its own mining and processing of rare earths, which mostly shut down in the 1990s. But 15 years after the Japan embargo, mining has resumed in the United States but most of the ore is shipped to China for processing into valuable materials, as rare earths refining has proved technically challenging.”
Click to expand...
Wow. They didn’t heed the “and don’t you dare raise tariffs on us just because we are doing it to you,” threats? Shocking.
 
Duke Mu said:
Trump committed country economic reassignment surgery without the parents' permission.

As a Trans-economy, the US will no longer be able to enter global economic competitions.
Click to expand...
I understand your point, but there's probably a better analogy to be used.
 
nycfan said:

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs​

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.

www.nytimes.com

Trump’s Trade War Escalates as China Retaliates With 34% Tariffs

The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.
www.nytimes.com www.nytimes.com


“… Separately, China’s Ministry of Commerce said it was adding 11 American companies to its list of “unreliable entities,” essentially barring them from doing business in China or with Chinese companies.

The ministry imposed a licensing system to restrict exports of seven rare earth elements that are mined and processed almost exclusively in China and are used in everything from electric cars to smart bombs.

The commerce ministry also announced it was beginning two trade investigations into American exports of medical imaging equipment — one of the few manufacturing categories in which the United States remains internationally competitive.

… China’s General Administration of Customs said that it would halt chicken imports from five of America’s biggest exporters of agricultural commodities and sorghum imports from a sixth company.

… China imposed a two-month freeze on shipments of rare earths to Japan in 2010 during a territorial dispute.

The Obama administration responded by calling for the United States to restart its own mining and processing of rare earths, which mostly shut down in the 1990s. But 15 years after the Japan embargo, mining has resumed in the United States but most of the ore is shipped to China for processing into valuable materials, as rare earths refining has proved technically challenging.”
Click to expand...
This will be the best. Prices at Wal-Mart, where 90% of the cult shops, are going to go up dramatically. Good let them understand what they did with their vote.
 
I thought that notorious liberal bastion Axios did good job pointing out just how delusional you have to be to believe Trump knows what he is doing.


"President Trump is betting his presidency on the biggest instant, unilateral, by-choice-not-necessity economic mandate in U.S. history, Jim VandeHei and Mike Allen write in a "Behind the Curtain" column.

Why it matters: He's gambling that generations of politicians, economists, CEOs, small-business owners, academics and even some of his own staffers are wrong — and that he's right.

  • And he's doing it with an issue that hits every American.
For Trump to be right, you gotta believe...

  1. That Trump's instincts are better than the past half-century of his party's judgment, as well as the judgment of the economists who've studied the topic extensively, both historically and contemporaneously.
  2. That Sen. Mitch McConnell (R-Ky.) — the former majority leader, reflecting what the vast majority of Senate Republicans say privately — was wrong when he tweeted: "As I have always warned, tariffs are bad policy, and trade wars with our partners hurt working people most. Tariffs drive up the cost of goods and services. They are a tax on everyday working Americans."
  3. That a minimum 10% increase in taxes on all imports — and much higher taxes on goods that come from China, Vietnam and other leading trade partners — won't meaningfully increase prices for most Americans.
  4. That U.S. companies will be able to make the same products just as cheaply — and right away.
  5. That allies and adversaries hit with big tariffs will just suck it up rather than retaliate, or that they'll move en masse to negotiate new trade deals favorable to the U.S.
  6. That American influence and power overseas won't diminish when those same allies start doing more business with each other — or China.
  7. That Canadian Prime Minister Mark Carney was wrong when he said: "Our old relationship of steadily deepening integration with the United States is over. The 80-year period when the United States embraced the mantle of global economic leadership ... is over. While this is a tragedy, it is also the new reality."
  8. That the U.S. stock market and economic growth will rise again amid a global trade war of choice.
  9. That recession forecasts by major financial institutions are wrong. And that the Dow, S&P and NASDAQ (U.S. stocks off $3 trillionyesterday — the biggest one-day drop since March 2020) are all wrong — or wildly overreacting."
 
UNCatTech said:
This will be the best. Prices at Wal-Mart, where 90% of the cult shops, are going to go up dramatically. Good let them understand what they did with their vote.
Click to expand...
WalMart has 2.1 million employees
 
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