Trump tariffs backfire

This topic contains 20 replies, has 7 voices, and was last updated by  lastday 3 months ago.

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  • #39983

    radiogeek
    Participant

    Dotard’s arbitrary and ridiculous tariffs are the most brilliant thing he’s done to date.

    He shoved a tax cut through McConJob and Ryan’s Congress to line his own pocket.

    Then, he lies to the worker class that putting arbitrary tariffs on imported goods will create more jobs. Never mind that the factories here to replace the ones overseas that make everything don’t exist anymore. He pretends the tariffs hurt foreign companies rather than consumers.

    He’s convinced the MAGA idiots to pay out of pocket via higher prices, tariffs paid by them to the US Treasury to pay for his tax cuts.

    Brilliant!

    #40278

    Vitalogy
    Participant

    Amid criticism from President-elect Donald Trump in January 2017, General Motors announced plans to invest an additional $1 billion in manufacturing in the United States and said it would add or keep 7,000 jobs in the US — a decision it admitted was “years in the making.” Trump thanked the company at the time.

    Less than two years later, the automaker said on Monday it would make overhauls that would lead to $6 billion in cost reductions by 2020, including shuttering up to five plants in the US and Canada and slashing 15 percent of its salaried workforce, a total of some 14,700 jobs.

    There are a confluence of factors behind GM’s decision — changing consumer demands, production costs, trade — some of which are tied to Trump, and some of which aren’t.

    https://www.vox.com/business-and-finance/2018/11/26/18112988/general-motors-plant-closures-tariffs-trump

    Trump’s tariffs are hurting US companies.

    It’s almost like he’s trying to create conditions for a massive recession.

    #40287

    Vitalogy
    Participant

    Lost jobs, shrinking growth, and rotting crops — here are the ways Trump’s trade war is hurting America.

    https://www.businessinsider.com/trump-china-trade-war-all-the-industries-hurt-by-us-tariffs-2018-11

    #41530

    Vitalogy
    Participant

    Trump vows to ‘reciprocate’ against EU tariffs after Harley reports nearly 27% drop in profit.

    https://www.cnbc.com/2019/04/23/harley-davidson-q1-2019-earnings.html

    #41869

    Vitalogy
    Participant

    A key indicator of the health of the manufacturing sector tanked in June, suggesting that business sentiment around new tariffs is starting to bite.

    The Empire State Manufacturing Survey, which measures how factories in New York State view the state of their business, fell much more than expected in June: a record 26 points, to the lowest level since October 2016. The figure, -8.6, is the first negative number in more than two years.

    A reading below zero indicates that the sector is actually contracting. It had been growing — albeit at a slower pace — for more than a year. The dip was driven by a decline in employment, the length of the workweek and new orders. And it’s not the only indicator showing a turn for the worse: Others, including the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey, have also been sinking steadily.

    Manufacturers are sensitive not just to the actual imposition of tariffs, but also to the threat of new tariffs. That fear has escalated in recent weeks, as President Donald Trump continued to hold open the possibility of 10% duties on an additional $300 billion in goods from China — even as he backed off on the idea of taxing Mexican imports as leverage in his campaign for more restrictions on cross-border migration.

    https://www.cnn.com/2019/06/17/economy/ny-manufacturing-index/index.html

    #41870

    lastday
    Participant

    But CNN is fake news at its most fake! Anything you don’t like or that’s unflattering to you personally is fake.

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