The trade and economy mega-thread (2 Viewers)

[superchuck500]

Is there a trade deal with China? Is it really a deal or just a pull-back to status quo ante? Is Trump advancing US interests in this well-executed trade battle plan or was this poorly conceived from the start . . . and harmful?

I think the jury's still out, but I haven't seen that the Chinese are offering much in compromise - and it's not even clear if there's going to be an agreement. But it's clear they are working on something and I'm sure Trump will sell it as the greatest trade deal ever. The proof will be in the details.

 

[cuddlemonkey]

Please feel free to ignore that which you do not like.

Nah. Unlike you, I have decided to acknowledge and interact with the world around me.

 

[TampaJoe]

Nah. Unlike you, I have decided to acknowledge and interact with the world around me.

Good luck.

 

[cuddlemonkey]

Good luck.

Thanks, I'm gonna need it. You can't tell from your bubble, but things are getting crazy out here.

 

[Optimus Prime]

After spending most of the 2024 campaign blaming Democrats for inflation and insisting that tariffs don’t increase prices, Donald Trump and his allies have a new economic message: High prices are good.

Treasury Secretary Scott Bessent, for example, recently admitted to the Economic Club of New York that inflation-weary Americans could see a “one-time price adjustment” from Trump’s tariffs, but he quickly added that “access to cheap goods is not the essence of the American dream.”

Representative Mark Alford of Missouri told CNN, “We all have a role to play in this to rightsize our government, and if I have to pay a little bit more for something, I’m all for it to get America right again.”

And Commerce Secretary Howard Lutnick put his own spin on the argument, telling NBC News that, yes, prices on imports will rise, but American-made goods will get cheaper, and that’s what matters. (In fact, tariffs generally lead to price increases for imported and domestic goods, because the latter face less foreign-price competition.)

It’s true that affordable goods and services are not, on their own, the definition of the American dream. But they’re a necessary component of it, and trade is one of the most important drivers of that affordability. Until recently, Republicans understood this quite well.

American workers are also American consumers who must devote a sizable chunk of their income to essential goods such as clothing, food, shelter, and energy—goods made cheaper and more plentiful by international trade.

Produce and clothing from Latin America, lumber and energy from Canada, footwear and electronics from Asia, wine and cheese from Europe: All of these and more help Americans stretch their paychecks and live happier, healthier lives.

Thanks to the internet, moreover, we benefit from internationally traded services too, whether it’s an online tutor in Pakistan, a personal trainer in London, a help-desk employee in India, or an accountant in the Philippines. And we gain from better or cheaper domestic goods and services that are forced to compete with imports on quality or price.

How Republicans Learned to Love High Prices​

How Republicans Learned to Love High Prices

Donald Trump’s allies have pivoted from denying that his tariffs will hurt consumers to insisting that consumers should welcome the pain.

www.theatlantic.com

 

[bird]

I was talking to my Canadian buddy today. He offered a gentleman’s bet of one dollar that Trump will try to get the U.S. to default on its debt.

Sadly, that would not surprise me.

 

[MT15]

After spending most of the 2024 campaign blaming Democrats for inflation and insisting that tariffs don’t increase prices, Donald Trump and his allies have a new economic message: High prices are good.

Treasury Secretary Scott Bessent, for example, recently admitted to the Economic Club of New York that inflation-weary Americans could see a “one-time price adjustment” from Trump’s tariffs, but he quickly added that “access to cheap goods is not the essence of the American dream.”

Representative Mark Alford of Missouri told CNN, “We all have a role to play in this to rightsize our government, and if I have to pay a little bit more for something, I’m all for it to get America right again.”

And Commerce Secretary Howard Lutnick put his own spin on the argument, telling NBC News that, yes, prices on imports will rise, but American-made goods will get cheaper, and that’s what matters. (In fact, tariffs generally lead to price increases for imported and domestic goods, because the latter face less foreign-price competition.)

It’s true that affordable goods and services are not, on their own, the definition of the American dream. But they’re a necessary component of it, and trade is one of the most important drivers of that affordability. Until recently, Republicans understood this quite well.

American workers are also American consumers who must devote a sizable chunk of their income to essential goods such as clothing, food, shelter, and energy—goods made cheaper and more plentiful by international trade.

Produce and clothing from Latin America, lumber and energy from Canada, footwear and electronics from Asia, wine and cheese from Europe: All of these and more help Americans stretch their paychecks and live happier, healthier lives.

Thanks to the internet, moreover, we benefit from internationally traded services too, whether it’s an online tutor in Pakistan, a personal trainer in London, a help-desk employee in India, or an accountant in the Philippines. And we gain from better or cheaper domestic goods and services that are forced to compete with imports on quality or price.

How Republicans Learned to Love High Prices​

How Republicans Learned to Love High Prices

Donald Trump’s allies have pivoted from denying that his tariffs will hurt consumers to insisting that consumers should welcome the pain.

www.theatlantic.com

We really need a vomit emoji under posts like these.