The TTT - Trump Tariff Thread

[ll74]

Americans Paid for the Trump Tariffs—and Would Do So Again​

https://www.cato.org/blog/americans-paid-trump-tariffs-would-do-so-again

Since we've had others discuss pricing control from Harris, I thought we could discuss the other pricing control policies being discussed on the other side of the aisle.

 

[Philthy_Phil]

Dumb thread.

 

[ll74]

Thank god that phil chimed in.

His opinion is all I care about

 

[Bray123]

The felon was on TV making out that tariffs are paid by foreign companies exporting to the US. Also he whines that all taxes on businesses are paid by the customers. Surely nobody is as dumb as to believe both points.

 

[JoePepsiCo]

I look to prior polices and results, Trump V. Biden.

 

[ll74]

I look to prior polices and results, Trump V. Biden.

Trump hasnt deployed a tariff policy anywhere close to the new one being suggested.

 

[Rotadom]

I look to prior polices and results, Trump V. Biden.

What do you and dislike about each?

 

[MajorRewrite]

Cato Institute has intelligent, evidence driven stances on international trade and immigration. It’d be nice if either the Republicans or Democrats had the same positions on those issues.

The Trump campaign surely believes tariffs and protectionism are a winning message, but there’s reason to be skeptical. A recent Cato Institute survey found that a mere 1 percent of Americans said that trade and globalization are a top three issue for them, and large majorities worried about and were unwilling to pay for tariffs’ costs, including higher prices or lost jobs. No wonder that Trump pretends those harms don’t exist.

I like how often Trump’s pretenses are called out now.

 

[Philthy_Phil]

Thank god that phil chimed in.

His opinion is all I care about

You'd be wise to take my opinion to heart, maybe then you wouldn't come off as such a fucking douchebag.

 

[ll74]

You'd be wise to take my opinion to heart, maybe then you wouldn't come off as such a fucking douchebag.

LMAO...of course

 

[Rightguide]

Thank god that phil chimed in.

His opinion is all I care about

He's only doing what you do.

 

[ll74]

He's only doing what you do.

Of course

 

[WinSomeLuzSome]

Lets talk Biden tariffs, shall we?

https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/

He kept them all and added new ones.

 

[ll74]

Lets talk Biden tariffs, shall we?

https://taxfoundation.org/research/all/federal/trump-tariffs-biden-tariffs/

He kept them all and added new ones.

Yes, more tariffs reduce the GDP.

And Trump has proposed across the board tariffs.

Thanks for the information

 

[RobDownSouth]

Trump hasnt deployed a tariff policy anywhere close to the new one being suggested.

No but the retaliatory tariff issued by the Chinese government on soybeans beginning in 2017 would have bankrupted most of the soybean growers in America had Trump not given the soybean farmers 50 billion-with-a-B dollars to sit around and not do anything except watch Fox News (to "maintain their standard of living").

 

[ll74]

No but the retaliatory tariff issued by the Chinese government on soybeans beginning in 2017 would have bankrupted most of the soybean growers in America had Trump not given the soybean farmers 50 billion-with-a-B dollars to sit around and not do anything except watch Fox News (to "maintain their standard of living").

Yep - the tariffs actually led to more government spending.

 

[RobDownSouth]

Yep - the tariffs actually led to more government spending.

Almost like a brand new entitlement for a certain class of farmer, y'know?

 

[WinSomeLuzSome]

Yes, more tariffs reduce the GDP.

And Trump has proposed across the board tariffs.

Thanks for the information

Yet Biden kept them and increased them

 

[ll74]

Yet Biden kept them and increased them

Yep. We've discussed that already

 

[subdudeme13]

Yet Biden kept them and increased them

With the Republican Tax cuts and the economic issues from the pandemic the income was needed to help keep the deficit down. Tariffs are a tax on us and usually on the lower income brackets.

 

[MajorRewrite]

Yet Biden kept them and increased them

From your link:

• Candidate Trump has proposed significant tariff hikes as part of his presidential campaign; we estimate that if imposed, his proposed tariff increases would hike taxes by another $524 billion annually and shrink GDP by at least 0.8 percent, the capital stock by 0.7 percent, and employment by 684,000 full-time equivalent jobs. Our estimates do not capture the effects of retaliation, nor the additional harms that would stem from starting a global trade war.

If you’re genuinely concerned about the economic impact of tariffs, then Trump is the wrong person to vote for.

If you’re only pretending to care about the economic impact of tariffs, then you’re probably a MAGA. They pretend to be upset about many things.

 

[schism666]

trump needs to learn what a tarrif is before you can make a thread about trump tarrifs.

 

[Bray123]

No but the retaliatory tariff issued by the Chinese government on soybeans beginning in 2017 would have bankrupted most of the soybean growers in America had Trump not given the soybean farmers 50 billion-with-a-B dollars to sit around and not do anything except watch Fox News (to "maintain their standard of living").

At what point does a payout to farmers become a subsidy and then 'socialism'?

 

[ll74]

Good time to resurrect and update this thread.

Question - if Trump imposes tariffs on Mexico, how likely is Mexico going to be open to re-establish the remain in Mexico policy?

 

[SimonDoom]

Increasing tariffs is a very dumb idea. Every economist understands this. I could be totally wrong, but I suspect this is one of those issues on which Trump will talk loudly but act more modestly. Kind of like the fairly modest revisions to the North American Free Trade Act, which Trump in 2016 called the worst trade deal ever (it wasn't). He made minor changes to it and called it a victory and the issue went away.