fruits of tariffs

[VitaMan]

What is the historical record on tariffs bringing fruit ?


Trump says they will. Where did he come up with that idea....just made it up ? He also said he doesn't care if car prices go up. And he says a lot of other things.


Meantime, a forced recession is looming. Making America great again....?

[Yssup Rider]

And, as we all know, Twitler is petrified of "fruits."

I'd like to see at least a concept of a plan for making that happen, amigo. Just a concept...

[GolfNut6372]

He always brags that he went to the Wharton School of Business at Penn.

When was he there? The 1890s?

[Why_Yes_I_Do]

Originally Posted by VitaMan

What is the historical record on tariffs bringing fruit ?...

They did for many years. History! Make it a thing again. Oh, and quit spending $$ we don't have.

[Why_Yes_I_Do]

Tomorrow, tomorrow, there's always tomorrow. It's only a day awayyyyy.

Originally Posted by Yssup Rider

And, as we all know, Twitler is petrified of "fruits."

I'd like to see at least a concept of a plan for making that happen, amigo. Just a concept...

[VitaMan]

Originally Posted by Why_Yes_I_Do

They did for many years. History! Make it a thing again. Oh, and quit spending $$ we don't have.

I don't believe economists and the record supports that.

[Schwarzer Ritter]

Trump 1.0 had tariffs and no inflation. Canada and Mexico already came to Trump looking for terms during the first round.

[VitaMan]

In all industries affected by Trump’s 1.0 tariffs, the duties boosted factory employment 0.4% by protecting certain sectors from imports but reduced payrolls 2% by harming the many more fields socked by rising costs, a Federal Reserve study concluded.

[VitaMan]

Trump 2.0 tariffs:


In a best-case scenario, if tariffs spurred so much new production in the U.S. that it wiped out the entire $1.2 trillion U.S. trade gap, Robert Lawrence of Harvard school of public policy estimates it would create about 1.5 million manufacturing jobs. That’s 1% of all U.S. jobs and a blip in a labor market that sees 5 million workers quit or lose jobs every month, Lawrence and Strain said.


By contrast, if tariffs set off a recession, it likely would mean 3.5 million fewer jobs by 2027, according to Moody’s Analytics.

[Precious_b]

Originally Posted by GolfNut6372

He always brags that he went to the Wharton School of Business at Penn.

When was he there? The 1890s?

Also said he was some kind of genius. Funny thing is, for his graduating class, he is not on the graduation program as being Magna/Summa Cum Laudre (sp) or in the top of any class his graduation year. That would mean his GPA was below 3.4.
That's less than B+.

Originally Posted by Why_Yes_I_Do

Tomorrow, tomorrow, there's always tomorrow. It's only a day awayyyyy.

Exactly what they said on last Great Depression. Thanks for the foreboding.

Originally Posted by Schwarzer Ritter

Trump 1.0 had tariffs and no inflation. Canada and Mexico already came to Trump looking for terms during the first round.

What's happening now than?

[Schwarzer Ritter]

Israel has given in on tariffs.

Another man graduated from a university near the bottom his class ranking. U S Grant was a great general nonetheless. Of course, Biden was at the bottom of his class. Judge them by the fruits of their efforts and not some class ranking.

[Yssup Rider]

Grant? Really? How utterly germane to this discussion! LOLLING!!!

Precious b asked you a legitimate question.if there was no inflation under Trump’s 1.0 tariffs, then what is happening today?

(Biden, right?)


HAHAHAHAHAHAHAHA

[RX792P]

Originally Posted by Schwarzer Ritter

Israel has given in on tariffs.

Another man graduated from a university near the bottom his class ranking. U S Grant was a great general nonetheless. Of course, Biden was at the bottom of his class. Judge them by the fruits of their efforts and not some class ranking.

Yep....the rest of the story is that 99% of US goods imported to Israel were not subject to tariffs anyway.

Tariffs on US goods into Israel are about $11 million per year.




Recent history?
Trump spent 92% of his previous administration's tariffs on stimulus payments to US farmers, their losses caused by Trump's little tariffs/trade war.

[VitaMan]

"What was delivered was as haphazard as anything this administration has done to date, and the level of complication on top of the ultimate level of new tariffs is worse than had been feared and not yet priced into the market," said Art Hogan, chief market strategist at B. Riley Wealth Management

[txdot-guy]

Originally Posted by Schwarzer Ritter

Trump 1.0 had tariffs and no inflation. Canada and Mexico already came to Trump looking for terms during the first round.

According to an article by Krugman Trump 1.0 tariffs are not the same as Trump 2.0 tariffs.

The original article is here. https://paulkrugman.substack.com/p/s...in-the-madness

Here’s a graph of the average US tariff rate by year.


This chart should tell you that you should ignore anyone citing the relatively mild effects of Trump’s 2017-18 tariffs as a reason not to be worried. Trump’s actions then were minor trade skirmishes, while this is all-out trade war.

I don’t know how many people realize that the administration’s case for tariffs is completely incoherent, that it has not one but two major internal contradictions.

Here’s the story: Trumpers are claiming that tariffs

1. Won’t increase prices, because foreign producers will absorb the cost

2. Will cause a large shift in U.S. demand away from imports to domestic production

3. Will raise huge amounts of revenue

If you think about it for a minute, you realize that (1) is inconsistent with (2): If prices of imports don’t rise, why would consumers switch to domestically produced goods? At the same time, (2) is inconsistent with (3): If imports drop a lot, tariffs won’t raise a lot of money, because there won’t be much to tax.

Now admittedly Krugman isn’t exactly an unbiased source but his reasoning seems sound to me.