Politics 🤡 Donald Trump

[Tokyo Warrior]

The armchair economists have been a bit quiet lately

Trump's tariffs actually slashed the deficit from a record $136.4 billion to less than half that. Here's what else they did | Fortune

The double-digit taxes on imports from almost every country have disrupted global commerce and strained the budgets of consumers and businesses worldwide.

fortune.com

“Trump’s higher tariffs are certainly raising money. They’ve raked in more than $236 billion this year through November.”

I wonder who is paying that money? Surely not American consumers.

And can you explain to me why having a trade deficit is inherently a bad thing? It wouldn’t be a side effect of having the world’s dominant reserve currency, would it?

 

[MrFrankWhite]

“Trump’s higher tariffs are certainly raising money. They’ve raked in more than $236 billion this year through November.”

I wonder who is paying that money? Surely not American consumers.

And can you explain to me why having a trade deficit is inherently a bad thing? It wouldn’t be a side effect of having the world’s dominant reserve currency, would it?

Why are you seeking my comment? I constantly profess my lack of deep economic knowledge. Nor did I prophesize about the effects, good or bad.

Perhaps you misunderstood what the comment above the link meant.

 

[wizard of Tauranga]

I wonder who is paying that money? Surely not American consumers.

95% American consumers. Exporters can’t afford to cut their prices by the cost of the tariffs. It’s basically a GST on imported goods only.

 

[Inruin]

95% American consumers. Exporters can’t afford to cut their prices by the cost of the tariffs. It’s basically a GST on imported goods only.

Also getting investment in USA from overseas manufacturers because of the tariffs. A few trillion dollars so far I think?

 

[Tokyo Warrior]

Also getting investment in USA from overseas manufacturers because of the tariffs. A few trillion dollars so far I think?

A majority of that investment comes from normal operational spending and goals for bilateral trade. It’s mostly a lie.

 

[Inruin]

A majority of that investment comes from normal operational spending and goals for bilateral trade. It’s mostly a lie.

Of course it is