https://www.nytimes.com/2019/06/02/business/trump-australia-tariffs.html?smid=nytcore-ios-share Trade War against... Australia?
130 Percent of Trump’s China-Tariff Revenue Is Now Going to Angry Farmers “I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers,” tweeted President Trump this month. This money is “great for U.S., not good for China!” The President’s accounting is, unfortunately, way off. First, his China tariffs last year netted the government less than a tenth of what he claims. Second, those tariffs were not paid by China, but by American companies importing Chinese goods—much of them components needed to manufacture products in the United States. Yet as we pointed out last December, Trump's tariff claims have a bigger flaw. In 2018, the U.S. government committed to paying American farmers $9.6 billion to offset their losses from Chinese tariff retaliation. This is about $1 billion more than it took in all year from Trump’s China tariffs. Tariffs, therefore, ending up not just harming American companies and consumers, but costing the government money. More money left “U.S. coffers” to offset farm losses than came into them from U.S. importers. We also predicted that, with farmers a critical part of Trump’s electoral base, these losses would grow as the trade war dragged on. And we were right. Since last year, as the graphic above shows, Trump’s “tariff deficit” has only ballooned further. The Department of Agriculture just unveiled a new $16 billion bailout for farmers hit by the trade war. After just ten months of a trade war with China, subsidies to farmers are set to drain over $25 billion from “U.S. coffers” for damage done to date. China tariffs, meanwhile, have so far brought in just over $19 billion in tax payments from U.S. importers—$6 billion less than authorized farmer payments. Going forward, Trump’s tariff deficit shows no sign of shrinking—quite the reverse. Just this week, China announced it will, once again, halt purchases of U.S. soybeans—a move that will further devastate the U.S. farm sector. This move, in turn, is likely to trigger further farm bailouts. If, as the president claimed in 2018, “trade wars are good, and easy to win,” this one is being badly generaled.
effectively, Trump's message to the world, even if your country (in this case, Mexico) signs a trade agreement w us, you will still be punished by our country subject to the whims of the the impetuous child in the White House
Trump predicts that the Mexico tariff will kick in next week https://www.ft.com/content/924037c4-86c4-11e9-a028-86cea8523dc2 it appears that the dotard has pushed the wrong button, as Republicans threaten revolt, may block Trump's Mexico tariffs. Turtle-faced McConnell sees little support for the Trump-induced tariff on Mexico; Rand Paul says there is enough votes in the Senate to defeat a Trump veto https://www.usnews.com/news/politic...-sees-little-support-for-trumps-mexico-tariff
trump's early morning tweet, supposedly quoting house leader mccarthy: senate leader mcconnell quote: https://www.politico.com/story/2019/06/04/trump-mexico-tariffs-senate-1353180
So... part of the trump requirement of Mexico to avoid his latest tariff threat is Mexico patrolling the border with Guatemala... https://www.reuters.com/article/us-...immigration-talks-in-washington-idUSKCN1T40I4
The middle class has been in one for years. https://www.brookings.edu/blog/up-f...-great-recession-hurt-the-middle-class-twice/ https://www.reuters.com/article/us-...ess-than-before-great-recession-idUSKCN1SG1BR Many farmers are being kept from recession because of socialism giving them govt. handouts to prevent their recession
ANd hey, despite john cornyn's temporary set of gonads ("Add @JohnCornyn to your thumbs-down list. Per spox: "Senator Cornyn supports the President’s commitment to securing our border, but he opposes this across-the-board tariff which will disproportionately hurt Texas.”), both cruz and cornyn say "screw Texans, I have to support trump"...
GOP lawmaker predicts Congress won't block Trump's Mexico tariffs Senate Homeland Security Chairman Ron Johnson (R-Wis.) says the votes aren’t there to block President Trump’s threat to impose a new round of tariffs on Mexico, despite broad concerns among GOP lawmakers. Johnson, an outspoken critic of Trump’s trade policies, says there won’t be enough votes to override the president’s expected veto of a disapproval resolution to block additional tariffs against Mexico. He said he informed Mexican ambassador Martha Bárcena Coqui of the political reality on Capitol Hill in a phone call Wednesday morning. “I talked to the Mexican ambassador, I wanted to make sure that she realized that if the President decides to invoke tariffs, I don’t think there’s a possibility for a veto override,” Johnson told reporters after the call.
obviously, u don't keep abreast of the US economy on the heels of the Dotard's announcement of another tariffs spat, on 4 Jun 2019, the Fed Chair said of the United States’ trade disputes with Mexico, China and other nations. “We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2 percent objective.” This signals that that the central bank will continue monitor Mr. Trump’s trade wars warily, ready to fend off any resultant economic damage, suggesting that interest rate could come down to counter the mounting recessionary pressure resulting from the Trump-induced tariff skirmishes / trade wars https://www.nytimes.com/2019/06/04/business/economy/powell-fed-trade-wars.html
That is god awful news for Texas, for the country, and for Mexico. Mr trump is insane. He doesn’t understand economics at all and has such a tremendous ego that he thinks anything he says is true, no matter how much he lies. It’s incredible and incredibly bad for our country. Don’t you agree /
I agree that that Mexico should be willing to do a lot more to stop facilitating illegal immigration into our country. Certainly nobody believes that these tariffs are the preferred arrangement between our two countries, including Donald Trump. They should be able to negotiate an acceptable agreement, in whicgh case the tariffs will be reduced or withdrawn.
