Trump Watch

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Fascism has come to America, wrapped in a flag and carrying a cross.

Documenting the crimes and corruption of the 47th president of the United States and his fascist minions.

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PortoPeople@lemm.ee

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Trump is furious that his tariffs are doing exactly what economists said they'd do (www.motherjones.com)

submitted 2 months ago by PortoPeople@lemm.ee to c/trump_watch@lemm.ee

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[–] mhague@lemmy.world 19 points 2 months ago (6 children)

I feel like discussions around tariffs are bizarre. I have read dozens of articles and comment sections and never see people bring up 2017.

Many companies passed the costs of the Trump tariffs on to consumers in the form of higher prices. Following impositions of the tariffs on Chinese goods, the prices of U.S. intermediate goods rose by 10% to 30%, an amount generally equivalent to the size of the tariffs.

A study published in fall 2019 in the Journal of Economic Perspectives found that by December 2018, Trump's tariffs resulted in a reduction in aggregate U.S. real income of $1.4 billion per month in deadweight losses, and cost U.S. consumers an additional $3.2 billion per month in added tax.

It's not like I don't value expert opinions or appreciate a consensus. I'm just confused why when Trump says tariffs will bring back jobs, nobody points to 75,000 manufacturing jobs disappearing due to his first tariffs. Are the tariffs fundamentally different or something? That would explain why everyone ignores the first tariffs.

[–] brian@lemmy.ca 5 points 2 months ago (1 children)

I can't speak for everyone, but I can honestly say that I had no idea there was any tariff actions back in 2017.

Maybe I was just not paying attention, but it certainly is more front page news these days.

[–] barneypiccolo@lemm.ee 7 points 2 months ago (1 children)

Some of the 1st term tariffs have been disasters. It destroyed soybean farming in America. HitlerPig had to give them a massive bailout, and it still hasn't recovered.

[–] FoxyFerengi@lemm.ee 3 points 2 months ago

The ones that were able to keep their farms only remember the bailout. Some of the uproar from farmers since Trump came back is that the money they expected from the government is gone, and they can't figure out why when this is the man that bailed them out. It's selective af memory

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