Tariff news... ‘Liberation Day' was 2APRIL2025... tariffs on steel and aluminum imports raised by 50%... Tariffs Deliver Record $23B in May
- Thread starter WVU82_rivals
- Start date
It is this braindead liberalism pretending to conservatism that saw the US go from the world's manufacturing superpower to one in which the PRC makes nearly twice as much as we do. And where, if the small island of Taiwan fell to an invasion, we'd be hurled into a Great Depression. This is not just about a "few union workers," this is about a globalized economic system in which the United States absorbs much of the producer surplus of the world. A system whose brittle supply chains exposed our economic vulnerability after COVID. And speaking of those auto workers this guy has such contempt for, it was the auto workers of the 1940s who allowed the United States to go from a peacetime economy to the best mass producer of aircraft the world had ever seen. By this logic, it should be illegal for the United States to control our borders, because that makes it impossible for employers to buy and sell labor at the price they choose. President Trump believes in borders. He believes in economic self-sufficiency. He believes America should be a great nation.
unseen1_unseen
Kevin Hassett just said something easily understood but not often explained. (Wonder why?)
Imports are only about 15% of GDP.
The other 85% is domestic.
In other words, Trump's tariffs are impacting 15% of gdp, Trump's tax cuts, deregulation, lower energy, and secure border impacts 85% of the gdp.
85>15, so whatever demand destruction is caused by tariffs will be easily soaked up by the demand increase from tax cuts and lower energy prices.
Taking it further, the demand increase will be met by increasing domestic supply brought to you by deregulation, permitting changes, and lower energy prices.
Hence, there is no or very low inflation.
As I've been saying, it's a "rebalance" economic policy.
You have deflationary and inflationary policies impacting demand and supply, all directed to increasing domestic production.
There will be winners and losers.
Remember the losers where the previous winners who offshored our jobs and wealth while importing cheap labor before.
Kevin Hassett just said something easily understood but not often explained. (Wonder why?)
Imports are only about 15% of GDP.
The other 85% is domestic.
In other words, Trump's tariffs are impacting 15% of gdp, Trump's tax cuts, deregulation, lower energy, and secure border impacts 85% of the gdp.
85>15, so whatever demand destruction is caused by tariffs will be easily soaked up by the demand increase from tax cuts and lower energy prices.
Taking it further, the demand increase will be met by increasing domestic supply brought to you by deregulation, permitting changes, and lower energy prices.
Hence, there is no or very low inflation.
As I've been saying, it's a "rebalance" economic policy.
You have deflationary and inflationary policies impacting demand and supply, all directed to increasing domestic production.
There will be winners and losers.
Remember the losers where the previous winners who offshored our jobs and wealth while importing cheap labor before.
Work is more than a paycheck.
Work is more than a reduction in welfare.
Work is pride, dignity and self esteem. Work is a strong prideful middle class who don't want handouts
I don't believe this will work and is the right thing to do . I may go a step farther and ad tariffs on countries that don't have our EPA, osha or workers rights .
China and all the other countries that have been ripping us off by paying our politicians hope it doesn't work too. The EPA is under new management as well. There's a reason the Communist wanted free trade in the WTO. So they could manipulate it with slave labor.