[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Coronavirus 'will infect 350,000 people in Wuhan': Scientists make alarming prediction ahead of Chinese New Year as China locks down FOURTEEN cities, part of the Great Wall and Disneyland Shanghai – and even McDonald's shuts up shop

Bloomberg Trolls Trump and then Loses the Ball

'Show up to court with a toothbrush': ICE says sanctuary city officials should expect jail time if they ignore subpoenas

Zapruder’s JFK Assassination Footage Altered by Nefarious Forces

Michigan State Police Uncovers Breathalyzer Fraud…Technicians accused of falsifying documents that certified the accuracy of breathalyzer devices in Michigan

Video Shows Everything Cops Told the Public About Killing Man in His Driveway Was FALSE

Chinese Lab That Studies “World’s Most Dangerous Pathogens” is Based in Wuhan

A Real BOMBSHELL Book!

Mentally Ill Veteran Suffering After Cops Kill Service Dog As It Used the Bathroom, Lie About It Biting Them

Study Finds Unborn Babies May Feel Pain as Early as 12 Weeks

Terry Jones, Monty Python Founder and Scholar, Is Dead at 77

Virginia Democrats Push Legislation to Make Criticism of Government Officials a Criminal Offense

Virginia Democrats Give Finger To Gun Activists, Advance Gun Control. West Virginia Looks At Taking Counties From Virginia, Report Says.

False prophet? Pope Francis hosts bizarre drag queen-like circus performance in creepy reptilian-shaped Vatican Hall

“Democratic Institutions?” 10 Lessons from history that will destroy your trust in the CIA

Climate change hoax COLLAPSES as new science finds human activity has virtually zero impact on global temperatures

“He was Murdered” – 13 Month Old Infant Dies 14 Hours After Receiving the Flu Shot

Denver Post Columnist Fired After Arguing There Are Two Sexes

Cop Arrested for Faking War on Cops Story of Sniper Shooting Him Setting Off Massive Manhunt

More Than 4 Times as Many Police Officers Killed Themselves Than Were Shot in 2019

FEDS ran the so-called “white supremacist” group tied to VA Governor’s false claim that gun owners would stage armed assault on capitol in Richmond

How Japan Has Almost Eradicated Gun Crime

AOC declares Democrats a 'center-conservative' party: We don't have a 'left party' in this country

MUST SEE LIST of President Trump’s Historical and Miraculous Accomplishments Three Years Into His Presidency

To ‘Make America Great Again’ Trump Added a $1 TRILLION Deficit in 2019—Just Like Obama

Innocent Man Tries to Clean Cop’s Windshield to Earn Some Money, So the Cop Shot Him

New Bill to Allow Cops to Detain Citizens, Force Them to Explain Who They Are, What They're Doing

NINE WOMEN WE CAN DO WITHOUT IN 2020

It’s Clear That Northam Is Praying For Violence

Illegal Immigrants Blocked At Border Pray For Trump's Defeat "I wwant trump out'

The Tractor Backlash

VA State Senator Goes Public 72 Hours Before Rally: ‘We Are Being Set Up’

Richmond 2A Rallygoers To Be Corralled Into “Chain-Link Pen” With Only One Way In And Out

ICE ups ante in standoff with NYC: ‘This is not a request’

Trump's Lawyers Formally Answer Articles of Impeachment

Cops Mistake Medical Emergency for Drug Use, Viciously Beat Man with Batons

Epstein’s Former Lawyers Picked for Donald Trump’s Defense Team

Adam Schiff takes on Trump, calling him an 'erratic hothead.' Now he's feeling the heat

Instead of Arresting and Jailing Drug Addicts, Police are Getting Them Help—And It’s Working

Award-winning Cop Arrests Musician on "Asshole Charge" for Cursing at him

Immunity Just Barely Denied To Cop Who Claimed Driving A Beat-Up Car And Paying For Purchases Is Suspicious Behavior

The DEA seized her father’s life savings at an airport without alleging any crime occurred, lawsuit says

Cops Violently Assault Grandma In Her Home After Granddaughter Cursed at Police

Minding Your Mood

DEMS TRIAL TRAP not allowing Trump to take office even if reelected (call Congress (202) 224-3121)

California drivers aren’t paying traffic fines. Here’s what Gov. Newsom plans to do

Police: Couple lured thieves with unattended bike, then beat them with bats in videos posted to YouTube

Cults Queen of Heaven

Susan Collins Working with ‘Small Group’ of GOP Senators to Rally Support for Impeachment Witnesses

Pelosi says Trump ‘impeached for life’ despite McConnell’s ‘gamesmanship,’ ‘coverup’


Status: Not Logged In; Sign In

International News
See other International News Articles

Title: Trump Doubles Down on Ineffective Tariffs, Further Harming U.S. Farmers and Consumers
Source: Reason
URL Source: https://reason.com/2019/05/18/trump ... ing-u-s-farmers-and-consumers/
Published: May 18, 2019
Author: Baylen Linnekin
Post Date: 2019-05-20 05:42:32 by Deckard
Keywords: None
Views: 240
Comments: 7

Last week, President Donald Trump announced he would impose new tariffs on hundreds of billions of dollars of goods produced in China. Many of those tariffed goods—just like the U.S. goods China has imposed retaliatory tariffs on—are farm products. Consequently, this latest round of tariffs is expected to add to the already higher prices Americans are paying for a variety of foods.

U.S. agricultural exports to China totaled $20 billion in 2017. Those exports come in about as broad a range as you could imagine. China's retaliatory tariffs have hit U.S. farmers hard.

"Soybean farmers, pork producers and a growing number of other agricultural interests across a range of states—including cherry producers, corn growers, and lobstermen—have complained that they are collateral damage caught in the middle of the escalating trade battle," the Washington Post reported this week.

The CEO of Del Monte, makers of popular canned produce, said this week that the company was forced to raise prices on U.S. consumers by 10 percent due to Trump's tariffs.

"Since China imposed tariffs last fall, [Indiana soybean and corn farmer Brent] Bible has nowhere to sell his soybean and corn crops," NPR reported this week. "And that situation just got worse, because the futures trading market started planning for higher tariffs earlier this week." Bible told NPR the tariffs had cost him $50,000 over just the past three days.

Earlier this week, Reason's Eric Boehm suggested that the most likely winner of the ongoing trade skirmishes between Trump and China would probably be bacteria, roaches, and rats, the appetites of which will be tested by all the food grown by American farmers that tariffs would cause to rot in warehouses rather than be sold.

Trump, who gave billions to subsidize U.S. farmers (and, um, Brazilian criminals) who were impacted by his earlier tariffs, has already proposed billions of new bailout dollars to help them deal with the inevitable fallout from his latest tariffs.

Does that make any sense?

It does to Trump, who loves tariffs. Last year he famously dubbed himself Tariff Man. In his 2011 New York Times bestseller, Time to Get Tough: Make America Great Again!, Trump writes that "a true commander in chief would sit down with the Chinese and demand a real deal, a far better deal. Either China plays by the rules or we slap tariffs on Chinese goods. End of story."

But it's not the end of the story.

Back in March, Trump hailed the "substantial progress" he says he'd made on trade with China. Those days are over.

"[A]fter weeks of optimistic statements by Trump and members of his administration about how trade talks were progressing, Trump abruptly escalated tariffs on $200 billion of Chinese goods last week and opened the door to even more," CNN reported this week. The network also noted that U.S. farmers are pissed over the move. That includes farmers such as this guy, who says he voted for Trump.

Trump's attempts to calm farmers came in the form of a typical Word Salad that was anything but soothing.

"Our great Patriot Farmers will be one of the biggest beneficiaries of what is happening now," Trump tweeted earlier this week. He also let those "great Patriot Farmers" know that his administration "will be making up the difference"—the income shortfall Trump's tariffs have wrought on those same great Patriot Farmers—out of "the massive Tariffs being paid to the United States for allowing China, and others, to do business with us."

Well, um, er, not exactly.

"White House economic adviser Larry Kudlow on Sunday acknowledged that the Chinese do not directly pay tariffs on goods coming into the U.S.," CNBC reported this week, "contradicting President Donald Trump's claims that China will pay for tariffs imposed by the U.S."

Kudlow also admitted something Trump, to my knowledge, has not: the very real harm that American tariffs inflict on American consumers.

Walmart, the country's largest grocer, says the latest round of tariffs will force the retailer to hike prices for consumers in the United States.

"China is not paying the cost of tariffs," Washington Post columnist Mark Thiessen, who supports the tariffs, wrote this week. "American businesses and consumers are paying."

"Trump is taxing consumers to bolster farmers, a core part of his political base," wrote Washington Post columnist Philip Bump this week.

Those taxes add up. One recent scholarly assessment of the impact of Trump's tariffs says they'll add roughly $500 to $800 in new costs to every American household, and will cost the U.S. economy tens of billions of dollars over the next year.

As messy as things are, they could get uglier still. An editor at a Chinese state-owned media company suggested "that China might cease purchases of U.S. agricultural products" altogether.

There are a lot of moving parts here—tariffs, bailouts, reprisals, tough messaging, pleas, calls for restraint, threats, and promises—seemingly with new ones added each day. I'm not an economist. Even if I were, though, I'd have a hard time comprehending what every move meant to the bottom line of U.S.-China trade.

Nevertheless, the whole is clear. Tariffs are bad for American and Chinese consumers, farmers, and food producers. In short, tariffs make things worse, not better. 

(1 image)

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Deckard (#0)

The CEO of Del Monte, makers of popular canned produce, said this week that the company was forced to raise prices on U.S. consumers by 10 percent due to Trump's tariffs.

Huh? We should have excess produce with the Trump tariffs. Sounds like price gouging to me.

misterwhite  posted on  2019-05-20   9:30:37 ET  Reply   Trace   Private Reply  


#2. To: Deckard (#0)

To me its amazing how people will promote a foreign country over their own! Especially one that is hell bent on taking over the world to spread communism.

This is were libertarian views fail miserably.

"Socialism corrupts and Democratic Socialism corrupts Absolutely"!

Justified  posted on  2019-05-20   16:16:05 ET  Reply   Trace   Private Reply  


#3. To: Justified (#2) (Edited)

It's almost as if Deckard hated America. I mean he doesn't want us to have jobs and rely on foreigners. He wants us all drugged up.

A K A Stone  posted on  2019-05-20   22:03:46 ET  Reply   Trace   Private Reply  


#4. To: Deckard (#0)

Ineffective? The US Steel Industry is roaring back after the one year tariff on Chinese steel! It's now US made Steel, not the compromised and degraded steel we were forced to buy from China.

WWG1WWA  posted on  2019-05-21   3:30:28 ET  Reply   Trace   Private Reply  


#5. To: Deckard, Trotskyite Trumpkins. America last (#0)

Family Ties

Neocons love Trump. And he loves the Deep State.



Ron Paul - Lake Jackson Texas Values

Hondo68  posted on  2019-05-21   15:26:38 ET  (1 image) Reply   Trace   Private Reply  


#6. To: Hondo68 (#5)

Is that a joke? The only one against the #DeepState is President Donald Trump.

WWG1WWA  posted on  2019-05-22   5:17:23 ET  Reply   Trace   Private Reply  


#7. To: A K A Stone (#3)

Deckhard is a real schmuck.

Liberals are like Slinkys. They're good for nothing, but somehow they bring a smile to your face as you shove them down the stairs.

IbJensen  posted on  2019-05-22   11:40:40 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com