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Offline Suppressed

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Trump Tweets ‘Tariffs Working Big Time,’ U.S. Trade Deficit Jumps 7 Percent In June
« on: August 06, 2018, 08:31:16 pm »
08/05/2018 11:01 pm ET
Trump Tweets ‘Tariffs Working Big Time,’ U.S. Trade Deficit Jumps 7 Percent In June
Economists predict the gap will widen even more through the rest of the year.
By Mary Papenfuss

Donald Trump boasted at his Ohio rally Friday night that his tariffs are a runaway success. One problem: America’s trade deficit jumped 7 percent in June, according to the most recent data.

The U.S. trade gap is currently on track to hit a ten-year high, despite a series of tariffs imposed on products and raw materials around the world by the Trump administration. The deficit climbed $3 billion to $46.3 billion in June from $43.2 billion in May, the Commerce Department reported Friday. That was the first increase in four months and the quickest uptick since November 2016.

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https://www.huffingtonpost.com/entry/us-trade-deficit-jumps-7-percent-in-june_us_5b677dede4b0fd5c73dae40e?utm_source=reddit.com
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Offline Wingnut

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Re: Trump Tweets ‘Tariffs Working Big Time,’ U.S. Trade Deficit Jumps 7 Percent In June
« Reply #1 on: August 06, 2018, 08:44:45 pm »
I'm no economist but I played one on tv.  But a quick internet search showed me this increase has more to do with Americans growing confidence in the US economy (and not mush to do with any tarrifs) and they are spending more on all good including those made in china.  So fake news from Huffpo
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Offline ABX

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Re: Trump Tweets ‘Tariffs Working Big Time,’ U.S. Trade Deficit Jumps 7 Percent In June
« Reply #2 on: August 06, 2018, 09:10:57 pm »
Quote from: The Ghost on August 06, 2018, 08:44:45 pm
I'm no economist but I played one on tv.  But a quick internet search showed me this increase has more to do with Americans growing confidence in the US economy (and not mush to do with any tarrifs) and they are spending more on all good including those made in china.  So fake news from Huffpo

Actually, you made a very good point that often is over-looked with all the hyperbole regarding trade. It is completely normal, and expected economically, for a wealthier nation to import far more than it exports. The wealthier a country gets, the more it buys and the less equitable it is to make lower margin items domestically. It is one of the reasons tariffs can't and shouldn't be used to force equality. All it does is end up pricing up goods to the consumer and eating away at that wealth. Mass tariffs like this, usually were the parlay of Progressives as they were a means to central plan equality and redistribute wealth on a international scale.

Not a popular thought among populists and progressives that the market will take care of itself, but it will.
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