Fallout from Trump tariffs

[GeorgiaModerate]

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[KingSweden]

After starting strong the Dow tapered off after the Canadian announcement and failed to clear the 200 day moving average yet again.

[GeorgiaModerate]

General Motors says new wave of Trump tariffs could force U.S. job cuts

[BudgieForce]

General Motors says new wave of Trump tariffs could force U.S. job cuts

We've gotten statements from practically every automaker about how damaging auto tariffs would be on the American car industry.  Trump's rhetoric on tariffs has slightly shifted in recent days, most notably how we haven't heard him speak about foreign automakers dumping cars into our market. General Motors seems to have been the most direct though, insinuating people will be getting laid off. Wouldn't shock me one bit if Mary Barra is threatening to start firing people in October.

Edit: Not to mention how powerful the auto dealer lobby currently is. Trump and Secretary Ross are probably experiencing one of the most forceful lobbying efforts in recent memory. We probably just arent seeing it.

If Trump does go through we these tariffs, I'd probably move Tennessee to likely D from tossup.

Edit: Tennessee has two major car assembly plants f.y.i. One of the reasons Corker has been so adamant about stopping the Tariffs.

[pbrower2a]

Meet The Press with Chuck Todd has a segment in his show called "Data Download."
In today's (Sunday June 24th) episode, he did a story on how China's tariff-retaliation on soybeans has hit the farmers in the USA hard.

Soybean prices have so far declined 15% in the USA, which is more than a 2-year low. This is hurting US farmers in the US, and is especially hurting those states which mainly produce soybeans. The top 10 states are: IA, IL, MN, NE, IN, OH, SD, ND, MO and KS. Eight of these states voted for trump, with MN almost voting for him.

And within all 10 of those states, 95% of the soybean-producing counties here, voted for trump. So those farming communities hit hardest by the soybean tariff are Donald Drumpf voters.

To see the 2-minute clip/episode, click here: https://www.nbcnews.com/meet-the-press/video/in-trump-s-trade-war-china-takes-aim-at-vulnerable-counties-1262854723828

Illinois outside of Greater Chicago (basically anything east of Aurora and Elgin and north of Joliet) is very R.

[HisGrace]

This is just so dumb. Did anyone honestly think the Chinese, Canadians, and whoever else would just roll over because Trump yells at them. The other nations are going to retaliate and the ones who will end up paying for it are American consumers and workers. Regardless of whether free trade helps everyone, protectionism pretty clearly hurts everyone.

[Hammy]

This is just so dumb. Did anyone honestly think the Chinese, Canadians, and whoever else would just roll over because Trump yells at them. The other nations are going to retaliate and the ones who will end up paying for it are American consumers and workers. Regardless of whether free trade helps everyone, protectionism pretty clearly hurts everyone.

This is why I oppose protectionism even while opposing free trade as it's done in practice--anybody who truly cares about the economy or jobs will require US companies to make their products here (with livable wages for their employees) instead than in foreign sweatshops, rather than punishing foreign countries for selling their goods here, or punishing consumers for wanting to buy those (often higher quality) goods.

[GeorgiaModerate]

AP: Another motorcycle maker considers moving output overseas

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[GeorgiaModerate]

Industry expert: Trump tariffs on auto imports could raise car prices by $5K

[ProudModerate2]

Idiot-In-Chief is sure Making America Great Again.

[Meclazine for Israel]

There are several clever ways to economically skin this cat.

One of the best and perhaps the most diplomatic ways is a 10% federal import tax.

Anything manufactured outside the USA or sold from outside the USA coming across the border. If you are running a large trade deficit, this can help raise your coffers without too much pain.

It's a consumption tax.

[True Federalist (진정한 연방 주의자)]

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

[GeorgiaModerate]

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

No way this would fly with Republicans in Congress.  It contains the dreaded T-word.

[True Federalist (진정한 연방 주의자)]

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

No way this would fly with Republicans in Congress.  It contains the dreaded T-word.

They seem awfully willing to swallow anything Trump offers them these days. But the sticking point is that instead of retaliatory tariffs, we'd be suffering from retaliatory import taxes.

[darklordoftech]

One thing that will result from this is that those harmed by these policies will be more supportive of free trade and is likely to pull the Democrats more in a free trade direction, which is their historical norm.

The pre-New Deal GOP was protectionist, but their motive was the opposite of Trump's. Then, businesses wanted protectionism while the lower classes wanted free trade. Today, businesses want free trade and the working class wants protectionism.

[○∙◄☻¥tπ[╪AV┼cVê└]

Is Trump trying to make fair traders look bad? Only a dumb would get into a trade war with Canada.

[GeorgiaModerate]

https://twitter.com/sdonnan/status/1014935756882763777

[#gravelgang #lessiglad]

The tax foundation did some number crunching on tariffs recently and found the potential economic impact to be negative GDP growth of 0.44% (i.e., tariffs would decrease GDP by 0.44%), which would offset over a quarter of the projected economic benefits from the TCJA, as calculated by the Tax Foundation. It could cost nearly 350,000 jobs and cut wages by a third of a percent. This in a climate of increasing interest rates, thus rising inflation pressure? I doubt the economic benefits of the policy.

I don't have a link, as these figures were in my morning work email, sorry.

[darklordoftech]

One thing that will result from this is that those harmed by these policies will be more supportive of free trade and is likely to pull the Democrats more in a free trade direction, which is their historical norm.

The pre-New Deal GOP was protectionist, but their motive was the opposite of Trump's. Then, businesses wanted protectionism while the lower classes wanted free trade. Today, businesses want free trade and the working class wants protectionism.

RINO Tom no doubt will say that many pre-New-Deal protectionists would be free traders today and that many pre-New-Deal free traders would be protectionists today.

[TheSaint250]

One thing that will result from this is that those harmed by these policies will be more supportive of free trade and is likely to pull the Democrats more in a free trade direction, which is their historical norm.

The pre-New Deal GOP was protectionist, but their motive was the opposite of Trump's. Then, businesses wanted protectionism while the lower classes wanted free trade. Today, businesses want free trade and the working class wants protectionism.

RINO Tom no doubt will say that many pre-New-Deal protectionists would be free traders today and that many pre-New-Deal free traders would be protectionists today.

Well, if their sole motive was to follow in line with the businesses, then yes, they would have switched positions today.

[darklordoftech]

One thing that will result from this is that those harmed by these policies will be more supportive of free trade and is likely to pull the Democrats more in a free trade direction, which is their historical norm.

The pre-New Deal GOP was protectionist, but their motive was the opposite of Trump's. Then, businesses wanted protectionism while the lower classes wanted free trade. Today, businesses want free trade and the working class wants protectionism.

RINO Tom no doubt will say that many pre-New-Deal protectionists would be free traders today and that many pre-New-Deal free traders would be protectionists today.

Well, if their sole motive was to follow in line with the businesses, then yes, they would have switched positions today.

RINO Tom often argues that politicians are and always have been motivated by being pro-business or anti-business and that if historical politicians were alive today, they would change their policies to match what pro-business or anti-business people want rather than changing parties to match their policies.

[Dr Oz Lost Party!]

So tonight is the beginning of the destruction of Trump and the Republican Party.

[YE]

One thing that will result from this is that those harmed by these policies will be more supportive of free trade and is likely to pull the Democrats more in a free trade direction, which is their historical norm.

The pre-New Deal GOP was protectionist, but their motive was the opposite of Trump's. Then, businesses wanted protectionism while the lower classes wanted free trade. Today, businesses want free trade and the working class wants protectionism.

RINO Tom no doubt will say that many pre-New-Deal protectionists would be free traders today and that many pre-New-Deal free traders would be protectionists today.

Well, if their sole motive was to follow in line with the businesses, then yes, they would have switched positions today.

RINO Tom often argues that politicians are and always have been motivated by being pro-business or anti-business and that if historical politicians were alive today, they would change their policies to match what pro-business or anti-business people want rather than changing parties to match their policies.

I mean he really isn't wrong.

[IceSpear]

So tonight is the beginning of the destruction of Trump and the Republican Party.

How many times has this been said in the last 3 years?

[BudgieForce]

So tonight is the beginning of the destruction of Trump and the Republican Party.

Not following.