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larryB said:Come on David,,, Richard Cohen(WaPo) July 23. You were quoting him,,,,, right?
Come on David,,, Richard Cohen(WaPo) July 23. You were quoting him,,,,, right?
larryB said:Yuuup! The genius is going to add $12 billion to his already growing federal deficit to ease the pain caused by his self induced trade war. I thought you repuglicans support free trade and are strongly against deficits
Yuuup! The genius is going to add $12 billion to his already growing federal deficit to ease the pain caused by his self induced trade war. I thought you repuglicans support free trade and are strongly against deficits
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Good to go.
Prices for US consumer goods will only increase that much faster if we engage in a trade war. How is this good?
WASHINGTON—The Trump administration on Tuesday will announce a plan to extend some $12 billion in emergency aid to farmers amid growing concerns that the U.S. agricultural sector could suffer from President Donald Trump’s escalating trade dispute with allies, a person familiar with the matter said.
The trade rift between the U.S. and some of its closest allies has prompted retaliations and legal actions following Mr. Trump’s decision earlier this year to impose tariffs of 10% on aluminum imports and 25% on steel imports from Canada, Mexico and the EU.
The president has also levied tariffs on $34 billion in imports of electronic goods, machinery and other products from China, with another $16 billion expected in the next few weeks. He has also said he would assess tariffs on a further $200 billion on a range of consumer products.
China, in response, has levied duties on $34 billion of U.S. products, covering 545 categories, ranging from soybeans, pork, chicken and seafood to sport-utility vehicles and electric vehicles.
The farm goods were chosen to hit U.S. states that supported Mr. Trump just months ahead of the midterm elections, according to people with knowledge of Beijing’s plan.
(More to Come) (that is, from the Journal)
Your original post text had a question at the end about how to navigate retirement without a pension. What happened?
Have a pleasant remainder.
I threw up part of my lunch when I saw that.
Taxpayer-funded bailouts to reimburse the collateral damage to his base brought on by his trade idiocy and ignorance is not the answer. But then again, this guy is the master of spending other people's money ....
to them, he hates the right people
,Thank You for your comment to larryB We need to think of others before someone makes hurtful remarks about someone else.Again thank you
'Making America 1929 Again': GOP Sen. Sasse Rips Trump on Tariffs, Planned Farmer 'Bailout'
It's easy to change that: Just click on the gear at the upper right of your post, and use "Edit" to change the classification, the headline, or any text within the post itself. You can do that at any time.
What impact will tariffs have on funds?
I believe @Catch22 tried to offer some help regarding your OP which had to do with funding "retirement without a pension".
A worthy question that many here would be happy to discuss, but for some reason that wasn't worth retaining and instead you decide to react as if Catch22 was picking on you.
Relax. We are all here to learn and share. Being a member since 2011 I hope you can appreciate that.
For me, when it comes to political forces...I can't control the wind, but I can adjust my sails.
Tariffs are a tax on goods and services and an added cost to business, but free trade isn't always fair trade.
I'm brushing up on the topic of Tariffs which the US has imposed on trade as early as 1789. Tariffs were the greatest source of income for the federal government up until 1913. The US never adhered to free trade until 1945. We used tariffs as a form of protectionism for our industries and our workers.
What the US seems to be trying to protect today has more to do with intellectual property since China wishes to confiscate the intellectual property associated with the production of more and more sophisticated products. That's a problem.
On the topic:
As for your retirement portfolio, these market disruptions might be very good periods to buy good solid companies that have been temporarily hurt by this "unsettled news".
It is likely to see more poor reporting in coming weeks.
There have been problems with international trade FOREVER. Every country protects certain industries in various ways at different times. Geez, we've been subsidizing our sugar industry for ~200 years. This is why you have organizations like the WTO to resolve these ongoing differences.
Ergo, while much of his rationale is true, I disagree with Trumps tactics, which are sort of a "kill 'em all and let God sort 'em out" approach. Whether it develops into an all out trade war or not, doesn't lessen the negative impacts this is having on our economy. Coke just raised prices to cover the aluminum tariff increase.
It is never good when the government intervenes in the economy as it cause distortions and interferes with the functioning of the free market. The steel industry being protected will continue to be fat, lazy and non-competitive. In fact, it will get worse. The jobs created in steel number ~28K while the jobs lost already are pushing 500K. If you want to protect these workers, you Educate them to take other jobs. Find me a coal miner that wouldn't rather be making wind turbines or solar panels.
Oh, and while we're currently blaming Trump, this craps been going on in Washington for decades by BOTH parties with officials so busy lining their pockets and selling us out.
and so it goes,