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Did Donald Trump lose a trade war he started, as Joe Biden says?

Discussion in 'General Politics' started by tulc, Jun 30, 2020.

  1. tulc

    tulc loves "SO'S YER MOM!! posts!

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    PolitiFact - Did Donald Trump lose a trade war he started, as Joe Biden says?
    tulc(thought this was interesting)
     
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  2. Der Alte

    Der Alte This is me about 1 yr. old. Supporter

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  3. tulc

    tulc loves "SO'S YER MOM!! posts!

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    ...or what he said could be mostly true. :wave:
    tulc(could also point out there were even links to support it) :)
     
  4. The Barbarian

    The Barbarian Crabby Old White Guy

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    Trump even offered welfare payments to American farmers to make up for their losses in the trade war, as China went elsewhere to buy grain.

    Sept 2019

    Trump trade war with China has cost 300,000 U.S. jobs, Moody's estimates
    • Moody's Analytics estimates that the Trump administration's trade war with China has resulted in 300,000 fewer jobs being created in the U.S.
    • That figure could rise to 450,000 by year-end if the dispute continues, according to the economic research firm.
     
  5. JackRT

    JackRT Well-Known Member Supporter

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    From a historical perspective trade wars have usually hurt both parties about equally. Case in point: the Trump administration is considering the reimposition of a 10% tariff on Canadian aluminum. US industry consumes about 6,000,000 tons of Al/year but produces only 800,000 tons/yr domestically. If the tariff is imposed American manufacturers will be forced to pay 10% more for product they desperately need with little if any effect on Canadian exporters. This will simply drive up the costs of US goods both domestically and for export. I should mention that the US Al industry is somewhat obsolete and hampered by high electricity costs. These are problems that don't exist in Canada and there are a couple of refineries in Canada whose output exceeds the entire US output.
     
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