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Again, no citations to support your opinions. Kindly do some research and get back to me.
That is not the intended outcome of a trade negotiation. That is economic common sense.Do you really think that we if we assess high tariffs on Bangladesh clothing imports, the U.S. will start making it's own clothing?
Yes. Not all Chinese goods are cheaper than US made goods. Can you be specific?Do you need citations to know Chinese products are cheaper than American-made ones?
Yes. Not all Chinese goods are cheaper than US made goods. Can you be specific?
That is not the intended outcome of a trade negotiation. That is economic common sense.
And increasingly not as good. That goes for more expensive products, too, I give you Boeing as an example. We're also supposed to be down on BMW, who manufacture BMW cars here in the US and exports them to Europe. We're also supposed to be down on Nippon Steel, who wanted to buy US Steel and manufacture steel here in the US. They believed they could make steel at a profit in US Steel's plants using US union labor, even before tariffs--something that US Steel's present managers are incapable of. Here's another: A major South Korean manufacturer of solar panels has just opened a big plant near me--900 jobs--to make the same solar panels they already make in Korea. They started building it before tariffs and thought they could make money. Now, with the tariffs, they will make even more money, because they can raise their anticipated price.Your argument contains contradictions.
The U.S. cannot balance the trade deficit and simultaneously bring jobs back to America. Balancing the trade deficit requires opening our market to foreign countries, allowing them to sell products here while they reciprocate. However, "Made in America" products are often more expensive than those from developing nations,
Don't be sorry, you may leave our exchange in peace. But remember, in order to educate another, one must use facts, not opinions.Sorry .. I have better things to do with my time then educate people online that Chinese products are cheaper then made in USA. Have a good day!
The outcome of the US imposing tariffs is to cause worldwide tariffs to plummet to at or near zero, and in turn, American tariffs plummet as well to at or near zero.What is the "intended outcome" of a trade negotiation with Bangladesh (or similar economies) in your view?
The outcome of the US imposing tariffs is to cause worldwide tariffs to plummet to at or near zero, and in turn, American tariffs plummet as well to at or near zero.
Do you have a reputable source that supports your opinion?In a matter of weeks, Trump reversed decades of negotiations to reduce tariffs with trading partners....
Economic common sense. Do you really think that we if we assess high tariffs on Bangladesh clothing imports, the U.S. will start making it's own clothing?
Do you have a reputable source that supports your opinion?
Well, the demand was for a reputable source. And, as I have five decades of observing international relations, is my opinion, therefore, superior to yours?Four decades of observing international relations.
Well, the demand was for a reputable source. And, as I have five decades of observing international relations, is my opinion, therefore, superior to yours?
Did you miss the headline? Topline Preliminary Estimates."GATT successfully reduced average tariffs among member countries from over 20% to around 5% or less."
The weighted average applied tariff rate on all imports will rise to 25.5 percent under the tariffs currently in effect. The average effective tariff rate, reflecting how much tariff revenue the new tariffs will raise after incorporating behavioral responses, such as imports falling in response to higher tariffs, will rise to 11.1 percent under the current tariffs—the highest average rate since 1943. We estimate tariffs will cause imports to fall by about $740 billion in 2025, or 22 percent.
Tracking the Economic Impact of the Trump Tariffs
The tariffs amount to an average tax increase of nearly $1,300 per US household in 2025.taxfoundation.org
It is also a mistake to believe that the administration endgame is to raise tariffs, rather it is to eliminate them. Given the status quo under Biden, those countries enjoying the unlevel playing field had no reason to negotiate. Now they do.
No one expects a rush. We cannot reverse in a year what has accumulated for 50+ years. Captial first, jobs second, GDP growth third, tax revenues will increase as GDP increases.What makes you think that is the case? (Setting aside Trump's delusion that manufacturing will rush back to the US.)
Now, what is your plan to resolve our $36 trillion dollar debt and our trade debt of $22 trillion since 1970?
Without a published manufacturing plan, tariffs are not useful. As for "unfair trade practices" that's what GATT and WTO and NAFTA and the other various trade treaties *AND THEIR ENFORCEMENT MECHANISMS* are about. You keep talking about "end games" when there are NO PUBLISHED plans or white papers about what these goals even are.No one expects a rush. We cannot reverse in a year what has accumulated for 50+ years. Captial first, jobs second, GDP growth third, tax revenues will increase as GDP increases.
The end game is to restore the US's manufacturing base that has been eroded over the past 50+ years by unfair trading practices.
The first has nothing to do with trade balance, and the second is not a real thing.Now, what is your plan to resolve our $36 trillion dollar debt and our trade debt of $22 trillion since 1970?
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