Trump: "Trade Wars Are Good, And Easy To Win"

[edpc]

WASHINGTON (AP) — President Donald Trump on Friday insisted "trade wars are good, and easy to win," a bold claim that prompted pushback from a Nebraska Republican who quipped "kooky 18th century protectionism will jack up prices on American families."

Trump has declared that the U.S. will impose punishing tariffs on steel and aluminum imports, escalating tensions with China and other trading partners and raising the prospect of higher prices for American consumers and companies. After the announcement Thursday, stocks closed sharply lower on Wall Street. China has expressed "grave concern."

Early Friday, Trump took to Twitter to defend himself: "When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don't trade anymore-we win big. It's easy!"

https://finance.yahoo.com/news/trump-orders-big-tariffs-steel-aluminum-roiling-markets-071542833--finance.html

[INVAR]

Okay, now I am officially convinced that Trump is actually going to be proven to be WORSE than if we had Hildabeast in that office.

What a stupid and dangerous moron!

Trade wars ALWAYS lead to hot wars.  Obviously history is not his strong suit, and neither is critical thinking beyond figuring out how to have his ego stroked by as many idiots he can dupe into doing so.

[Concerned]

It’s almost as though Trump believes no other country will do anything in response to his tariffs.  Gary Cohn must feel like the only sane person in an insane asylum. 

[Formerly Once-Ler]

I'm still working out my anger over President Richie Rich's gun, immigration, and spending betrayals...I'm not ready for his latest outrage. 

[edpc]

It’s almost as though Trump believes no other country will do anything in response to his tariffs.  Gary Cohn must feel like the only sane person in an insane asylum.

The actual tariff terms are still in progress and won't be signed until next week.  Like I said in another thread, I'm starting to think this is SOP to develop policy.  He'll say or tweet something outrageous, gauge the reaction, and fine tune the actual policy on the feedback.  It's a fairly reckless, amateurish, and chickensh*t way of governing.

[Concerned]

The actual tariff terms are still in progress and won't be signed until next week.  Like I said in another thread, I'm starting to think this is SOP to develop policy.  He'll say or tweet something outrageous, gauge the reaction, and fine tune the actual policy on the feedback.  It's a fairly reckless, amateurish, and chickensh*t way of governing.

We'll see.  One of the very few things that I recall Trump being consistent about, ideologically, has been tariffs and protectionism.  In response to his "announcement" yesterday, the DJIA was down 400.  After gauging that reaction, he doubled down this morning with his nonsensical "Trade wars are good" tweet.  The Dow is now down another 150 or so.  I certainly agree though that it's a "reckless, amateurish, and chickensh*t way of governing".

[edpc]

Trade wars ALWAYS lead to hot wars.  Obviously history is not his strong suit, and neither is critical thinking beyond figuring out how to have his ego stroked by as many idiots he can dupe into doing so.

This possibility has been discussed within the beltway for almost a decade.


Historically, currency wars lead to trade wars, which often lead to hot wars. In 2009, Rickards participated in the Pentagon's first-ever "financial" war games. While expressing confidence in America's ability to defeat any other nation-state in battle, Rickards says the U.S. could get dragged into "asymmetric warfare," if currency wars lead to rising inflation and global economic uncertainty.

https://finance.yahoo.com/blogs/daily-ticker/next-global-crisis-currency-wars-already-begun-rickards-142124909.html

[NavyCanDo]

Who in the end pays for tariffs?  The American taxpayer. Passed onto us with higher cost for the imported raw materials. Trump is a moron

[edpc]

Who in the end pays for tariffs?  The American taxpayer. Passed onto us with higher cost for the imported raw materials. Trump is a moron

On top of that, there's no guarantee it will lead to a shift in American made products.  They still need to meet the demand from customers.  If they don't have the personnel, equipment, and output capacity, who's going to contract them?  These things just don't happen overnight.

[corbe]

Trump vs Friedman - Trade Policy Debate


! No longer available

[Formerly Once-Ler]

Trump vs Friedman - Trade Policy Debate

Good stuff corbe.  10Q

[Frank Cannon]

I'm still working out my anger over President Richie Rich's gun, immigration, and spending betrayals...I'm not ready for his latest outrage.

To be "betrayed" wouldn't you have to be a supporter who believed what he was saying? You are as big a fraud as you think Trump is.

[Suppressed]

It’s almost as though Trump believes no other country will do anything in response to his tariffs.  Gary Cohn must feel like the only sane person in an insane asylum.

Remember, liberals always do static analyses.

[Suppressed]

Who in the end pays for tariffs?  The American taxpayer. Passed onto us with higher cost for the imported raw materials. Trump is a moron

Consumers do, mainly, even if not taxpayers.

[edpc]

Trump vs Friedman - Trade Policy Debate

The best part of that video is the exchange between Trump and Blitzer.  When the amount of debt to China is mentioned, Trump says after one year of the tariffs, we don’t owe them anything.  There are two problems with that.

• Trump assumes purchasing remains the same.  Taxes often have a depressing effect.
• He’s basically saying all the extra money your paying for something will be given right back to them to clear debt.

So, how do they lose?

[Formerly Once-Ler]

You are as big a fraud as you think Trump is.

I'm sorry things are not going the way you expected @Frank Cannon

[Free Vulcan]

While I'm all for tough and fair trade agreements, and enforcing them, you can't approach the subject like a chainsaw to remove a tooth. It takes quite a bit of finesse and sophistication or it can all blow up in your face.

[edpc]

It should be fine.  Trade is 17th on the list Trump knows or does better than anyone else.


! No longer available