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

Harvard Grad Claira Janover Never Had A Job At Deloitte But Is Set to Cash In On GoFundMe For Being 'Fired'

Gorsuch Joins With Libs to Void Child Rapist's Conviction and Declare Half of Oklahoma a 'Native American Reservation'

Chicago: ‘Black Lives Matter’ Mural Painted Over to Read ‘All Lives Matter’

Head of Emergency Management Says Texans Should Wear Masks Inside Their Own Homes

'SUPPRESSION OF SPEECH' Goya Foods CEO Bob Unanue refuses to apologize after online boycott over ‘blessed to have Trump’ praise

Overweight Black Models Oppressed by Exclusion

WNBA, NFL Players Show BLM Stands For Bigoted Lynch Mob

‘Who’s That Beautiful Face? How Old?’ – Biden Refuses to Answer Questions From Reporters But Creeps on Child During Visit to His Childhood Home

Black American Actor Calls For The End Of Racial Division In The US

Wisconsin Man in Hate Crime Killing Says He Intentionally Swerved Truck because He Believes Harley Drivers to be “White Racists” — Murdered former Cop

Racist? Black Jeopardy with Tom Hanks - SNL

Alan “The-State-Can-Plunge-A-Needle-In-Your-Arm” Dershowitz Is In Epstein’s “Little Black Book”

Banned Video: Get Ready For The Great Reset

The Former Lady Antebellum Music Group Is Now Suing Black Soul Singer ‘Lady A’ Over Name Change

NEW HATE HOAX: Police Stop Investigation into Racist Notes Left on Car After ‘Victim’ Refuses to Cooperate

Vallejo PD says Sean Monterrosa was at half-kneel when he was fatally shot in back of head by officer

NBC News Throws Affirmative Action Into Overdrive

Remember this? Never back down to #BLMTerrorists Patriots never take a knee to. Bullies

Can Biden Even Say the Words “America First”?

‘Pull up your pants & finish school’: Would CNN’s Don Lemon cancel himself over shockingly unwoke 2013 tips to black community?

Another "Hate Crime" Hoax - Oregon politician wrote racist letter to himself, police say

Scrabble Players Association to ban 238 words that cause harm, even on a board

Pathetic: ABC Stokes Racial Tensions for Ratings

Mocking Masks

Occultism Is the Religion of Millennial Progressives

VIDEO: Ex-Wide Receiver Catches Child Thrown from Burning Building

CDC admits COVID-19 ‘positive result’ just means you’ve previously contracted the “common cold”

Churches Were Eager to Reopen. Now They Are a Major Source of Coronavirus Cases.

Students Say They Will Sacrifice Free Speech To Avoid Offending People

Facebook waives “hate speech” policy to allow pro-LGBT hate speech against white men

Black Lives Matter Philadelphia leader proposes five-year plan to abolish police

Mary Trump’s explosive tell-all about the president details her uncle’s comments about her breasts, his cheating on the SAT exam, and how his own sister called him a clown.

Cancel Culture Is Out of Control

The Madness of Political Correctness

White Kid’s “Privilege” Didn’t Save Him

US Officially Withdraws From World Health Organization

Angry Lesbians Release America-Hating Remake of Lee Greenwood’s Classic for 4th of July

Fairmont cop drove twice the speed limit in a fatal crash. He won't be charged.

Manhattan DA Charges White Woman For Calling 911 On Black Man Who Admitted He Threatening Her

153 "Left-Leaning" Economists Say US Should Continue To Hand Out Free Money Indefinitely

Ilhan Omar Calls For ‘Dismantling’ Of U.S. ‘Economy & Political Systems’

WHO Created Global Pandemic Panic Based on Fraudulent Data and Its Leader Tedros is Connected to Islamic Terrorism and Is a China Puppet

Coronavirus Death Rate Plunges As MSM Breathlessly Hypes ‘Surge’ In Confirmed Cases; McEnany Sets The Media Right

Nation That Kills 3,000 Babies A Day Feels Morally Superior To Slaveowners From 200 Years Ago

Picture of The Day: Left-Wing Fireworks

Trump rips Redskins, Indians for eyeing name changes to be 'politically correct'

This headline is real: It’s from a feminist, of course

BLM Teacher Says 2+2 Only = 4 Because of “Western Imperialism”

150 Top Intellectuals Sign Open Letter Decrying Cancel Culture

Gavin Newsom caught wiring half a billion dollars to communist China in massive face mask money laundering scheme


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: 296
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

Begin Trace Mode for Comment # 3.

#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.

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


Replies to Comment # 3.

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

Deckhard is a real schmuck.

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


End Trace Mode for Comment # 3.

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