The President is RIGHT. We DO “lose $800 billion every year” in deals that are TOUTED as “free trade” but which are anything BUT “free trade.” It’s NOT “free trade” when our trading partners slap 100% tariffs on American-produced goods. It’s NOT “free trade” when countries like China subsidize their own industrial or agricultural production in a deliberate effort to undercut American products and drive American industries out of the world market. That doesn’t even address the theft of our intellectual property in these so-called “free-trade” deals touted by the one-worlders.
What did China tax at 100 percent prior to the president’s trade war? Is there a 100-percent tariff now?
Do you realize we were already tariffing the crap out of the rest of the world, 25 percent on pickup trucks, 50 percent on sugar? Do you realize we subsidize our own industries? The Farm Bill is coming up again. It’s not “free trade” when we subsidize our own industrial or agricultural production in a deliberate effort to undercut foreign products and drive foreign industries out of the world market.
The federal government spends more than $20 billion a year on subsidies for farm businesses. About 39 percent of the nation’s 2.1 million farms receive subsidies, with the lion’s share of the handouts going to the largest producers of corn, soybeans, wheat, cotton, and rice.1
Also, PD, We do not lose $800 billion in deals. I send the Chinese a few bucks for a few different things. I receive the things for those dollars. I willingly spend the money. I do not lose it, yet the president counts those dollars as part of this $800 billion. They were mine. Now they belong to a Chinese, and the stuff I bought belongs to me. Same as trading at the local grocery store. The same thing applies to you and the things you buy. We lose nothing.
Some more “lies” at Reason – cuz the Trump Administration isn’t really doing this…
President Donald Trump’s trade war is going so well that the Department of Agriculture is about to start bailing out farmers.
The department announced today that the first $4.7 billion of a planned $12 billion aid package will be made available next week to farmers growing soybeans, cotton, wheat, and other products targeted by Chinese tariffs. (Those Chinese trade barriers, in turn, were a response to the Trump administration’s decision to put tariffs on about $50 billion of Chinese goods.) Most of the bailout funds—$3.6 billion of the total—are earmarked for soybean farmers, who have been particularly hard hit by this year’s trade war.
The money is being provided by a New Deal–era crop insurance program that’s been dormant for decades. The feds will also purchase up to $1.2 billion in “commodities unfairly targeted by unjustified retaliation”—a bonus bailout by other means.
Typical coffee shop expert, he only mentions benign reasons why a trade deficit would exist and presents his argument as if ONLY those benign reasons cause trade deficits.
Much like anti tariff coffee shop experts, their reasoning is similar.
- All Protectionism schemes incorporate tariffs in some form.
- Protectionism is a bad economic philosophy.
- Therefore all tarrifs are Protectionism and by extension bad policy.
No effort to introduce other reasons for a trade deficit that are NOT benign or tarrifs that are NOT applied to establish Protectionism will bear fruit, the fallacious reasoning which is applied by the coffee shop academic is an impenetrable wall.
Ignorance is only “bliss” when your candidates lose, when ignorance wins elections you get the Obama jobless economy.
Trump knows exactly what he is doing because Trump has actually been a major worldwide economic player for decades; that is something that coffee shop academics despise.
As our current economy proves, “understanding” why it is working is not a vital component to it working; ignorance cannot derail the results of sound policy.
From Trump’s twitter feed:
Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive. Make your products in the United States instead of China. Start building new plants now. Exciting! #MAGA