World Retaliates Against USA On Tarrifs

[Economy 52,837]

https://www.bnnbloomberg.ca/canada-hits-back-at-u-s-tariffs-with-up-to-16-6b-in-surtaxes-1.1085700

 

After Trump ended the Tarrifs exemptions for Canada, Mexico and Europe.... All 3 parties quickly announced retaliations

 

Canada announced Dollar for Dollar retaliations. For starter steel imports from US will get the exact same tax rate the US imposed

 

Mexico and Europe are also announcing several retalitory actions on import taxes from the United States

 

The US already has strong trade tensions with China to add to that which has also taken a few retalitory actions of their own

 

Trump has said before that Trade Wars are easy to win

[monster4life231 4,304]

Trump just retire sweety.  It’s for your own good, but mainly ours. 

[LePetitGAGABLover 21,234]

Even I, as a Computer Science major, know more about trades and the major effects of globalization within the last few decades

He’s clearly and imbecile that knows NOTHING. Im happy that other countries are standing up to that bully.

 

[ctherainbow 3,162]

"Trade wars are easy to win"/"my **** is big enough to see without the aid of technology"

Both statements are false.    

Like... I'm not usually one to disrespect sitting presidents, but I'm so exhausted that he keeps doing things to feed his ego.  His Memorial Day post disgusted me, and he has literally no policy direction and is lucky that the economy is recovering so his presidency is 99% a disaster and not 100%.    

And I'm a registered Republican.  

[Economy 52,837]

7 minutes ago, LePetitMonstr said:

Even I, as a Computer Science major, know more about trades and the major effects of globalization within the last few decades

He’s clearly and imbecile that knows NOTHING. Im happy that other countries are standing up to that bully.

 

 

4 minutes ago, ctherainbow said:

"Trade wars are easy to win"/"my **** is big enough to see without the aid of technology"

Both statements are false.    

Like... I'm not usually one to disrespect sitting presidents, but I'm so exhausted that he keeps doing things to feed his ego.  His Memorial Day post disgusted me, and he has literally no policy direction and is lucky that the economy is recovering so his presidency is 99% a disaster and not 100%.    

And I'm a registered Republican.  

Yeah he doesn't seem to get that because of Interlinked business an import is rarely just from that Nation. U buy a car for example the parts come from multiple Nations (some possibly from your own Nation)

 

He also doesn't seem to understand macro-economics

 

The US runs large budget deficits. It puts more money into the economy than it takes out of it. For example It has hundreds of thousands of military personel for example that consume goods like every other person but do nothing industrially or economically productive. Those $700 Billion annually on military is pure consumption and no production

 

When you put far more money into economy than you take out it's almost inevitable that you will run trade deficits because your recapitalizing the economy with funds for it to be able to consume beyond what it's production of goods would be able to pay for

 

Rather than accepting responsibility for Government policies that cause these imbalances, it's so much easier to just blame it on trade deals

[SKANK 14,288]

 @Economy  I actually thought of you today, as I was struggling to understand the news of the retaliatory tariffs. Could you break it down of those of us who are economic idiots? I'm a little confused about what is happening. 

[Economy 52,837]

11 minutes ago, SKANK said:

 @Economy  I actually thought of you today, as I was struggling to understand the news of the retaliatory tariffs. Could you break it down of those of us who are economic idiots? I'm a little confused about what is happening. 

Basically because Trump wants to change deals with everyone he's using Tarrifs as pressure tactics and because he thinks it will help domestic industry.

 

He often shows a lack of understanding in how closely interlinked everything is for example a car sold between the US and Canada on average crosses the border 7 times because different parts and work at different stages is done by different companies each in each Nation. So most products don't really originate from a single Country. Whoever exports the finally product actually often buys several components from other Nations in some cases from the very Nation it's selling the final product to.

 

Trump for example was unaware the US had a trade surplus with Canada when counting all trade (not just manufactured goods). He admited he made up the trade deficit without knowing at a rally and someone recorded it without him knowing

 

One of the industries he's playing hard ball with is steel so he's imposing all these Tarrifs

 

Countries are tired of negotiations going no where so many are just starting to put Tarrifs back on the US to retaliate to send a message even tho most Countries understand trade wars don't help anyone

 

Trump also never talks about Government policies that have way more impact on trade deficits than the trade deals themselves but of course he won't admit it.

 

For instance his ballooning budget deficits will make it worse because it will energize the economy with even more money in relation to what it produces encouraging even more consumption in relation to production. Deficits capitalize the economy with wealth it naturally can't sustainably gain on its own thru the wealth it generates thru it's productive capacity

 

[SKANK 14,288]

11 minutes ago, Economy said:

Basically because Trump wants to change deals with everyone he's using Tarrifs as pressure tactics and because he thinks it will help domestic industry.

 

He often shows a lack of understanding in how closely interlinked everything is for example a car sold between the US and Canada on average crosses the border 7 times because different parts and work at different stages is done by different companies each in each Nation. So most products don't really originate from a single Country. Whoever exports the finally product actually often buys several components from other Nations in some cases from the very Nation it's selling the final product to.

 

Trump for example was unaware the US had a trade surplus with Canada when counting all trade (not just manufactured goods). He admited he made up the trade deficit without knowing at a rally and someone recorded it without him knowing

 

One of the industries he's playing hard ball with is steel so he's imposing all these Tarrifs

 

Countries are tired of negotiations going no where so many are just starting to put Tarrifs back on the US to retaliate to send a message even tho most Countries understand trade wars don't help anyone

 

Trump also never talks about Government policies that have way more impact on trade deficits than the trade deals themselves but of course he won't admit it.

 

For instance his ballooning budget deficits will make it worse because it will energize the economy with even more money in relation to what it produces encouraging even more consumption in relation to production. Deficits capitalize the economy with wealth it naturally can't sustainably gain on its own thru the wealth it generates thru it's productive capacity

 

 

Thank you for the thoughtful response.

Is it wrong to use tariffs as leverage?

[Economy 52,837]

1 minute ago, SKANK said:

 

Thank you for the thoughtful response.

Is it wrong to use tariffs as leverage?

I guess depends on the situation. He's using it against China and many Countries argue China has unfair trade practices and he's trying to level the Plainfield

 

But a lot of other Countries there's never been anything released to suggest the US is being unfairly screwed over the way Trump asserts at least not to the extent he says

 

Again, we Canada buy more from America than America buys from us and it took forever for Trump to acknowledge his trade deficit allegations with us were incorrect. That's not even difficult information to get, you can literally Google it

 

 

[JevyDuty 2,961]

41 minutes ago, Economy said:

That's not even difficult information to get, you can literally Google it

 

 

The problem is that he has an agenda irrelevant to facts. I just don't understand how he doesn't understand how the economy works. I really think he doesn't want to see the bigger picture in a lot of situation. He's so small minded. I'm glad the world is standing up to "us." (Except China )