Trade Wars and Tariffs

[NorthDallas40]

While it’s great that some in Congress are finally starting to stop ceding their constitutional power to the executive if this ever makes it to Trump’s desk it will be vetoed.

6 House Republicans defy Trump on key agenda item in Dem-pushed vote

The House passed legislation to roll back President Donald Trump’s Canada tariffs after several Republicans joined Democrats in a rare rebuke. The resolution now heads to the Senate.

www.foxnews.com

 

[MontyPython]

Tell us MAGA fans, what are you NOT going to do this year with that additional $1,000.00 that you’ve paid directly to the federal government instead of putting it in your pocket thanks to Trump‘s tariffs?

Per recent studies on who actual pays for tariffs (spoiler alert: Trump lied to you):

96 % of tariff costs end up being passed through to U.S. buyers — meaning U.S. companies and U.S. households pay the bulk of the price increase, while foreign exporters absorb only a small fraction.

 

[McDad]

Tell us MAGA fans, what are you NOT going to do this year with that additional $1,000.00 that you’ve paid directly to the federal government instead of putting it in your pocket thanks to Trump‘s tariffs?

Per recent studies on who actual pays for tariffs (spoiler alert: Trump lied to you):

96 % of tariff costs end up being passed through to U.S. buyers — meaning U.S. companies and U.S. households pay the bulk of the price increase, while foreign exporters absorb only a small fraction.

I am really delighted that people are finally understanding how taxes trickle down to the consumer / citizen. It's a tremendous step in the right direction. It's unfortunate that Trump had to be elected and create policy that finally woke everybody up. I can only hope that this new understanding will continue with other forms of Taxation and after Trump is gone.

 

[hog88]

Tell us MAGA fans, what are you NOT going to do this year with that additional $1,000.00 that you’ve paid directly to the federal government instead of putting it in your pocket thanks to Trump‘s tariffs?

Per recent studies on who actual pays for tariffs (spoiler alert: Trump lied to you):

96 % of tariff costs end up being passed through to U.S. buyers — meaning U.S. companies and U.S. households pay the bulk of the price increase, while foreign exporters absorb only a small fraction.

Finally understanding trickle down I see.

But to answer your question, I haven't noticed the missing grand yet.

 

[NashVol11]

 

[LouderVol]

Tell us MAGA fans, what are you NOT going to do this year with that additional $1,000.00 that you’ve paid directly to the federal government instead of putting it in your pocket thanks to Trump‘s tariffs?

Per recent studies on who actual pays for tariffs (spoiler alert: Trump lied to you):

96 % of tariff costs end up being passed through to U.S. buyers — meaning U.S. companies and U.S. households pay the bulk of the price increase, while foreign exporters absorb only a small fraction.

still more worried about the 3k additional I have lost a year since Obamacare. More worried about the ~6k I lose in SS that I will never see. that doesn't even touch the multiple of tens of thousands of dollars I lose to income tax. but thanks for being worried about 1k.

I can avoid that 1k by watching what I buy from where, the rest of it I can't avoid or minimize.

 

[BeardedVol]

 

[Thunder Good-Oil]

It’s still kind of early. Trump hasn’t had a full fiscal year yet for his economic policies to crash and burn or to get the economy zooming.

 

[BeardedVol]

It’s still kind of early. Trump hasn’t had a full fiscal year yet for his economic policies to crash and burn or to get the economy zooming.

I applaud your ability to engage in the 'willing suspension of disbelief' in the face of the current economy; it's truly amazing.

 

[Thunder Good-Oil]

I applaud your ability to engage in the 'willing suspension of disbelief' in the face of the current economy; it's truly amazing.

Are we going to only focus on a 2% increase in the year over year trade imbalance? What about the couple hundred billion more in tariff revenue that went to the Treasury? Also, the new manufacturing capacity has to be built before it can be utilized to increase exports.

 

[BeardedVol]

Are we going to only focus on a 2% increase in the year over year trade imbalance? What about the couple hundred billion more in tariff revenue that went to the Treasury? Also, the new manufacturing capacity has to be built before it can be utilized to increase exports.

Are you forgetting the entire premise that Trump put forth for why blanket tariffs were necessary?

MAGAmnesia is a truly insidious disease.

Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security

PURSUING RECIPROCITY TO REBUILD THE ECONOMY AND RESTORE NATIONAL AND ECONOMIC SECURITY: Today, President Donald J. Trump declared that foreign trade and

www.whitehouse.gov

 

[MontyPython]

still more worried about the 3k additional I have lost a year since Obamacare. More worried about the ~6k I lose in SS that I will never see. that doesn't even touch the multiple of tens of thousands of dollars I lose to income tax. but thanks for being worried about 1k.

I can avoid that 1k by watching what I buy from where, the rest of it I can't avoid or minimize.

You’re not gonna collect Social Security? What’s going on you dying or something? Don’t mean to pry.

 

[Thunder Good-Oil]

Are you forgetting the entire premise that Trump put forth for why blanket tariffs were necessary?

MAGAmnesia is a truly insidious disease.

View attachment 814179

Fact Sheet: President Donald J. Trump Declares National Emergency to Increase our Competitive Edge, Protect our Sovereignty, and Strengthen our National and Economic Security

PURSUING RECIPROCITY TO REBUILD THE ECONOMY AND RESTORE NATIONAL AND ECONOMIC SECURITY: Today, President Donald J. Trump declared that foreign trade and

www.whitehouse.gov

You only posted the nearly flat trade deficit. There are many other objectives as outlined in the White House document. Bringing back domestic manufacturing (and jobs) seems like the big one. Then I’m not even sure if using enhanced tariffs for bad behavior is listed, but using our economic power with that has been quite effective.

I’d also wonder how much of the imports/exports is China trade. They can go to hell. Same for our trading partners or “allies” that enable China to continue cheating.

There’s also energy prices which are a large variable with trade stats. I believe that we are a net exporter of natural gas which has a generationally depressed price. And we’ve exported a lot of sweet directly from the upstream flow instead of refining it into higher value products because government red tape has been a hindrance to retooling our refineries to use the huge supply of the input. While also having to import enough sour for our current refinery configurations to run at high capacity. Getting Venezuela producing sour again will help with that assuming we don’t fix our refineries first.

 

[BeardedVol]

You only posted the nearly flat trade deficit. There are many other objectives as outlined in the White House document. Bringing back domestic manufacturing (and jobs) seems like the big one. Then I’m not even sure if using enhanced tariffs for bad behavior is listed, but using our economic power with that has been quite effective.

I’d also wonder how much of the imports/exports is China trade. They can go to hell. Same for our trading partners or “allies” that enable China to continue cheating.

There’s also energy prices which are a large variable with trade stats. I believe that we are a net exporter of natural gas which has a generationally depressed price. And we’ve exported a lot of sweet directly from the upstream flow instead of refining it into higher value products because government red tape has been a hindrance to retooling our refineries to use the huge supply of the input. While also having to import enough sour for our current refinery configurations to run at high capacity. Getting Venezuela producing sour again will help with that assuming we don’t fix our refineries first.

You really aren't helping your argument.

Get the Facts: Are there more manufacturing jobs in the US?

President Trump promised to revitalize America's manufacturing industry. A year into his second administration, here's what the data shows.

www.wgal.com

 

[Thunder Good-Oil]

You’re not gonna collect Social Security? What’s going on you dying or something? Don’t mean to pry.

The worst case with SS benefits is that retirees will only receive half or 2/3rds of what they get now as it would simply be paid from current worker pay taxes. More likely though is that more money is printed and benefit decreases are “avoided” by paying the difference from the general revenue collections instead of exclusively what passes through the trust.

We’re looking at about a generation of tepid payroll tax collections coming up. But we first get to watch what Japan and much of Europe does to manage their accelerated demographic challenges.

 

[Thunder Good-Oil]

You really aren't helping your argument.
View attachment 814201

Get the Facts: Are there more manufacturing jobs in the US?

President Trump promised to revitalize America's manufacturing industry. A year into his second administration, here's what the data shows.

www.wgal.com

The factories have to be built before manufacturing jobs are created. It’s a long term strategy. They’ll also be fewer in numbers but will be of the high skill, highly compensated types.

Factories would never be built without good policy. China nearly destroyed our aluminum industry by dumping (non tariffed) products. Almost all of our semi fabrication takes place in Taiwan and the CCP keeps threatening to take it. Better to build our own facilities here (including Taiwan Semi building in the USA) than getting into a military conflict with that evil empire. Japan nearly ended domestic motorcycle production, but Reagan’s response was so effective that the 700cc sanctions were lifted early.

 

[BeardedVol]

The factories have to be built before manufacturing jobs are created. It’s a long term strategy. They’ll also be fewer in numbers but will be of the high skill, highly compensated types.

Factories would never be built without good policy. China nearly destroyed our aluminum industry by dumping (non tariffed) products. Almost all of our semi fabrication takes place in Taiwan and the CCP keeps threatening to take it. Better to build our own facilities here (including Taiwan Semi building in the USA) than getting into a military conflict with that evil empire. Japan nearly ended domestic motorcycle production, but Reagan’s response was so effective that the 700cc sanctions were lifted early.

Reality doesn't agree with you.

Manufacturing Construction Spending Declines Under Trump - FactCheck.org

Spending to build, expand and rehabilitate manufacturing sites in the U.S. has declined since President Donald Trump took office, according to U.S. Census Bureau data. Yet, Trump has repeatedly boasted that “factory construction” is up 41%.

www.factcheck.org

And you should probably be careful what you wish for anyway.

The Chinese factory that opened in the US and clobbered its rivals

President Trump has pressured trading partners for investment in U.S. manufacturing plants. What if local industries can’t compete?

www.livemint.com

 

[General Jack]

US businesses and consumers pay 90% of tariff costs, New York Fed says

Central bank’s research undercuts Trump’s claims that foreign companies will pay for levies

www.ft.com

 

[CobbVol]

This was the warning in 2024 from 16 very smart Nobel economists ... luckily for them they already won their award.

https://www.cnn.com/2024/06/26/business/nobel-economists-trump-inflation

 

[SpaceCoastVol]

In what world is he making progress?

I wish I would have written it down, but something like 600K deportations and over 2MM "Self" deportations. It is progress towards cleaning up the Biden invasion.

 

[SpaceCoastVol]

I am really delighted that people are finally understanding how taxes trickle down to the consumer / citizen. It's a tremendous step in the right direction. It's unfortunate that Trump had to be elected and create policy that finally woke everybody up. I can only hope that this new understanding will continue with other forms of Taxation and after Trump is gone.

Dream On, dream On ----- not just an Aerosmith lyric

 

[SpaceCoastVol]

The factories have to be built before manufacturing jobs are created. It’s a long term strategy. They’ll also be fewer in numbers but will be of the high skill, highly compensated types.

Factories would never be built without good policy. China nearly destroyed our aluminum industry by dumping (non tariffed) products. Almost all of our semi fabrication takes place in Taiwan and the CCP keeps threatening to take it. Better to build our own facilities here (including Taiwan Semi building in the USA) than getting into a military conflict with that evil empire. Japan nearly ended domestic motorcycle production, but Reagan’s response was so effective that the 700cc sanctions were lifted early.

 

[Vol737]

I wish I would have written it down, but something like 600K deportations and over 2MM "Self" deportations. It is progress towards cleaning up the Biden invasion.

 

[newokie03]

https://thehill.com/business/5737182-tariffs-trump-us-businesses-impact/

 

[Vol737]

The biggest tax on the people is the .gov’s intentional destruction of the dollar. Not a fan of tariffs, but ffs, some are bitchin’ about the rope we’re hanging oursleves with being new.