Donald Trump and maga Republicans ignore tariff war reality! Duh? Manufactureing in America will not bring any tariff revenues into the economy
Echo opinion letter published in the Grand Forks Herald a newspaper serving North Dakota and parts of Minnesota: Donald Trump's tariffs don't make sense (ya'think❓)
As we approach another (dumb❗) tariff deadline on August 1st, it’s made think about what the point of all this economic chaos could be❓
Tariffs are on; no, just kidding they’re off; actually they’re on, but they’re delayed and the whole world will hurt “bigly” unless they trade with us — or we might delay them again.
Certainly, there must be a reason. As far as I can tell, the administration has stated three main goals. (1) They want the tariffs to bring back manufacturing to the United States (okay, but "when"❓; (2) they want the tariffs to lead to better trade deals that are more favorable to the purchasing power of the United States (okay, but "how so", when these "partners" are finding other international customers❓; (3) and they want to balance the budget with the revenue from Donald Trump’s tariffs (all while the rich get richer with tax cuts that could have achieved this third elusive objective).
All three of these goals are mutually exclusive. If you want the tariffs to bring back manufacturing, then they can’t be bargaining chips, because dropping tariffs (as would be a possibility in a negotiation) would end the protection for domestic manufacturing.
Tariffs are on; no, just kidding they’re off; actually they’re on, but they’re delayed and the whole world will hurt “bigly” unless they trade with us — or we might delay them again.
Certainly, there must be a reason. As far as I can tell, the administration has stated three main goals. (1) They want the tariffs to bring back manufacturing to the United States (okay, but "when"❓; (2) they want the tariffs to lead to better trade deals that are more favorable to the purchasing power of the United States (okay, but "how so", when these "partners" are finding other international customers❓; (3) and they want to balance the budget with the revenue from Donald Trump’s tariffs (all while the rich get richer with tax cuts that could have achieved this third elusive objective).
All three of these goals are mutually exclusive. If you want the tariffs to bring back manufacturing, then they can’t be bargaining chips, because dropping tariffs (as would be a possibility in a negotiation) would end the protection for domestic manufacturing.
Likewise, they can’t be used to increase revenue for balancing the budget if we’re going to drop them when we get a favorable deal.🙄 They also can’t be used to increase revenue if the plan is to restore domestic production. The revenue for tariffs comes from the importer paying duties (a.k.a. "taxes:) when the goods are brought into the country. If you onshore manufacturing, you’ll no longer be bringing in goods to be tariffed, meaning you won’t have that revenue to balance the budget.
The Donald Trump trade war makes no sense.
From Tony Hollingsworth in Grand Forks
1
The Donald Trump trade war makes no sense.
From Tony Hollingsworth in Grand Forks
1
Labels: Grand Forks Herald, North Dakota, Tony Hollingsworth
posted by Juliana L'Heureux | 7:10 AM
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