Fallout from Trump tariffs

[Badger]

Unfortunately in the world of business, you have to make decisions.

And some of the most effective decisions by politicians in hindsight are unpopular ones.

Not everyone will like it.

Of course "not everyone will like it". Few will like it because it is a short-sighted narcissism-driven decision, just like every other one coming out of the White House, with poor consequences to the national economy.

[Badger]

The dumb thing about this is America files more wrongful trade suits with the WTO than any other country, and we win the vast majority. Furthermore, the WTO process is being slowed because the Trump Administration is unilaterally opposing every replacement judge being proposed. It requires universal approval of the 160+ countires within the WTO, and for the last year and a half we've been the loan holdouts.

Brilliant. I guess shutting down the proven workable system for resolving trade disputes is worth it to the Trump Administration proving their boss was "right" to impose tariffs.

[Badger]

A great example of the ripple effects of tariffs: http://www.philly.com/philly/business/trump-commerce-paper-mill-newsprint-tariffs-20180612.html

Summary: a private equity firm that owns a paper mill in Washington State petitioned the government for a tariff on Canadian newsprint, to try and increase the mill's value.  The administration imposed a tariff that has led to a 30% increase in the cost of newsprint.  U.S. newspapers, many of which were already struggling, are laying off staff as a direct consequence of the increased costs.  Industry executives say that job losses may be in the thousands.  The mill employs 250 people.

Yeah, but those were elitist book-learnin’ jobs. Probably mostly done by womenfolk. Who needs those?

In all seriousness, Trump and his cohorts would gladly like thousands of reporters and other jobs in the media to save 250 paper mill jobs. And damn the consequences. Same goes true for massive loss of productivity in solar panel installation. Who needs that when we're just going to bring back coal gas and oil.? Maga!

[Badger]

An import tax is just a tariff by another name. Why in hell would calling it an import tax be more diplomatic?

The source of this theory is one of the last people to think that Trump is still somehow playing 4-D chess rather than acting on every whim and shiny object that passes through his narcissism addled Id.

[Badger]

https://twitter.com/ianbremmer/status/1020301570502811649

Jokes aside, this is literally going like one of Trump's business ventures: he's going to keep lying and conning right up until the end when everything ends in disaster and then he blames everyone else for letting him down since he thinks of himself as the smartest person in the world.

This.

[Badger]

Tariffs could mean 2M drop in car sales and cost 715K auto industry jobs

That's almost 10% of the entire auto industry in the US.

Holy sh**t the guy's a moron.

You'd think an Ivy League education wouldn't produce a moron, but it did.

There are reliable news sources that Trump got into Wharton directly from Fred pulling strings from an old friend. Also from a now deceased professor there who told friends repeatedly that Trump was the dumbest student he ever had.

[Badger]

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Let me guess, he didn't know what Trump meant when he talked about launching trade wars. Dumb F***.

Worse yet, what are the odds he'll still back the mango Mussolini  reelection?