Tariffs are not a meaningful negotiating tool

I agree with you in a sense. Though I believe manufacturing jobs will go by the wayside with automation. One of the biggest reasons of my support for new energy is the vast amount of jobs and competitive market that could emerge from it. Also why I’d like to see free tuition for trade skills such as engineering. We can choose to be the leader of this new market or give it to the likes of China.

 

How sanctimonious of you to condemn a President who has the most positive string of foreign and domestic accomplishments since Ronald Reagan.

You say that President Trump has "...done this before. He says he is going to do something super stupid, rejected by all, even his own party. Then, at the last minute, he backs down." When you say "backs down" do you mean he changes his mind or do you mean he literally backs down like when Obama drew his "Red Line" in Syria and then backed down.

There are many cases where the ends justify the means - Given President Trumps record of so many positve achievements, I would say his methods are successful and are leading the nation back to prosperity.

Re: Your "predictions" - it's well known that the Presidents negotiating methods are to offer up the best or worst case senario's and go from there - consider your prediction on his proposed tariffs on steel and aluminum that have been delayed for another 30 days (Hmmmm- could the NK peace process be related to any proposed tariifs.) Of course, the "delay" makes your first predition wrong since a "delay" does not mean an exemption.

On your second prediction; President Trumps threatens to pull the United States out of the Iran nuclear deal unless European allies fix its "terrible flaws" by May 12.
The deal provides Tehran with relief from sanctions in return for curbs on its nuclear program, but Trump has said the terms are not strict enough.
Given the flood of Iranian documents recently released about Irans nuclear program, the President will pull out of the deal and impose severe penalties and sanctions on Iran. Do you think Iran will blink?

As for your third prediction - President Trumps ego won't allow him to do anything else but deal directly with Kim.

 

And it is a problem only when we impose them? It is OK that our trading partners impose them?

 

So,as the saga continues, this mornings ( May 1) local newspaper has article(s ) that say residential power rates are going up & that corporate is the beneficiary,lawsuits filed against the trump administration over the sale of oil & gas leases on huge swaths of western public lands that contain crucial habitat for an imperiled bird ( Sage Grouse)(Montana filed this suit ). Wildlife advocates asked courts to reverse lease sales on more than 1,300 square miles of land on Montana,Wyoming, Utah & Nevada,also the continuing saga over our Wild horses here in Nevada,the agreement was for the government to implement birth control to the mares to help control the population, which they say they don't want to continue, that's when they came up with giving the horses away, well that's not working, no takers---also gas prices are going up----again,actions have consequences--think,think trump, before you go creating chaos where the longterm harm could be devastating----

 

President Donald Trump will take another 30 days to decide whether to impose steel and aluminum tariffs on US allies. He pushed back the deadline to June 1 to allow more time for negotiations with the European Union, Mexico, and Canada, reports the Wall Street Journal.

A 10 percent aluminum tariff and 25 percent steel tariff had been set to go into effect May 1 at midnight.

Now the Trump administration has pushed back that deadline once again, to June 1 for Canada, Mexico, and the European Union. The New York Times reports that Australia, Argentina, and Brazil have reached “initial agreements” [yeah, sure] with the administration that will let them at least temporarily avoid tariffs. As for South Korea, the Wall Street Journal reports that the administration has finalized a deal that will allow it to avoid tariffs altogether.

https://www.vox.com/2018/4/30/17305350/trump-tariffs-steel-aluminum-trade-deadline-extended

What "initial agreements?" The Trump administration doesn't say, and we will never find out. It's just more B.S. The leaders of the European Union, Mexico, and Canada are probably telling Trump to shove it. Enough of the threats and gamesmanship already.

Trump has done this before. He says he is going to do something super stupid, rejected by all, even his own party. Then, at the last minute, he backs down.

 

lol its like I take your home, car, etc, tell you its good in the long run, cause those item cost $$$ to maintain. are you really that gullible

 

Robert, you have a serious reading problem. I am not talking about China.

 

And you don't list any. That is a statement without substance.

No that is not what Trump has said. He says the Iran deal "violates the spirit of the agreement," meaning missile development and state sponsored terrorism. It is a deal to prevent Iran from making a nuke. It has nothing to do with missiles and terrorism. Even Trump knows Iran is in compliance with the deal.

Let's assume that Netanyahu's presentation provided new information, even if that is a leap. So, assuming this, it turns out that Iran is doing research into making a bomb. So, according to you and Trump, this is a great time to pull out all the IAEA inspectors that are permitted by the Iran nuclear agreement. What could go wrong?

Don't get ahead of yourself. Trump is already providing spin to get out of the summit. He wants Kim to agree to denuclearization and verification. That is not going to happen. When Trump finally realizes what everyone else knows, except you, he will pull out.

However, now he wants to travel all the way to North Korea to accommodate the dictator. Jeez! How embarrassing is that.

 

So explain to us how running at a trade deficit is actually good for us.

Go ahead.

 

I'll help. Deficit in this case is a misnomer. Deficit implies a loss of capital. In trade between nations, the difference between the amount of trade is called a deficit. But it is not a monetary deficit. We receive goods for that deficit. Those consumer goods then become a part of our vibrant, dominant economy.

Contrary to what Trump and Sean Hannity would have you believe we do not lose money in the trade deficit. Also, because our economy is so huge, we have far more consumption than any other nation. Naturally, that will cause a trade differential (deficit) with any individual nation.

 

So using that logic then, a trade deficit for China would help them also so why don't they do that?

 

https://www.forbes.com/sites/kenrapoza/2018/07/31/u-s-goes-for-chinas-jugular/
Oops

 

I will take a stab at this if you dont mind. I think that it is not about money or trade. It is about dominance both militarily and in trade. All of these tariffs are directly or indirectly at countries or groups that we want to dominate or prevent from dominating us. We want to be able to set the rules, break those rules, and have not consequences for it. So trying to break china's back, intimidating the EU, and promoting our steel and aluminum production for war materials is all a part of that equation. Mexico and Canada were told if they follow suite with the tariffs of Chinese metals that there would not be any tariffs put on them. They declined and here we are.

 

Koch brothers plan to spend millions to fight Trump tariffs

https://www.usatoday.com/story/news...pend-millions-oppose-trump-tariffs/669764002/

 

So the Koch bros. are against Trump, he is showing that he can't be bought, he does what he wants to.

That's refreshing to see in a politician frankly.

 

It is kind of Ballsy

 

There is a loss of capital.
Any money you spend on trade is lost capital. The money leaves the country.
You exchange the money for goods. You get goods. But they are foreign made goods, so the money goes abroad, it does not stay in the USA.

You receive goods for that deficit and you also receive debt. An obligation to pay for them that you have not met.
This comes at a price. Has an interest rate. A hidden cost to everything you buy.

Trade is an exchange.
Being a consumer economy, doesn't mean you don't need to exchange things to trade. You still do.
Nothing is for free.

Contrary to what lying economists would have you believe.