Fed study: Trump tariffs backfired, caused job losses and higher prices

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Cinnabar

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Donald Trump’s strategy to use import tariffs to protect and boost U.S. manufacturers backfired and led to job losses and higher prices, according to a Federal Reserve study released this week.

“We find that the 2018 tariffs are associated with relative reductions in manufacturing employment and relative increases in producer prices,” concluded Fed economists Aaron Flaaen and Justin Pierce, in an academic paper.

https://www.marketwatch.com/story/fed-study-finds-trump-tariffs-backfired-2019-12-27
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As a result, US manufacturing has seen job losses and higher prices for consumers.

“We find the impact from the traditional import protection channel is completely offset in the short-run by reduced competitiveness from retaliation and higher costs in downstream industries,” the authors say.

The findings affirm predictions from trade economists across the political spectrum who have warned that Trump’s tariffs were more likely to damage the US economy than help it — particularly in a globalized economy, where any major departure from free trade norms comes with an array of costs.

https://www.msn.com/en-us/finance/m...-how-trumps-tariffs-have-backfired/ar-BBYrsA7
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This is what you get when an idiot is in charge.
 
What is your position on trade deals like NAFTA, CAFTA and others? How do you feel about the WTO and China MFN?

Not a gotcha question, I'm asking your progressive opinion.
 
Cinnabar said:
This is what you get when an idiot is in charge.
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What a DUMBASS. Tariffs NEVER LOWER PRICES...they were never intended to, numbskull.

They were designed to get more favorable, LONG-TERM, trade agreements from nations that have been allowed to SCREW US FOR TOO LONG, BY PRESSURING THEM ECONOMICALLY, and they ARE WOKING LIKE GANGBUSTERS = WHY THE US ECONOMY IS THRIVING, WHILE THE CHINESES IS FALTERING; WHY THE EUROSLEAZE HAVE REDUCED THEIR TARIFFS ON US GOODS, and WHY WE HAVE A FAR MORE BENEFICIAL FOR AMERICANS TRADE DEAL WITH CANADA and MEXICO.

TRUMP KNEW THAT OUR NEWLY STROGN ECONOMY COULOD WITHSTAND TARIFFS BETTER THAN COULD EUROPE OR CHINA.

HE WAS/IS RIGHT...AGAIN.


TRY TO KEEP UP...
 
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floridafan said:
Yes the farmers who have gone bankrupt or the ones who need food stamps to live are all big fans of trump and his tariffs.
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Farmers (especially DAIRY FARMERS) have been in financial straights for over a decade. HAS NOTHING TO DO WITH TRUMP. THE NEW US/CANADA/MEXICO DEAL WILL ELIMINATE CANADIAN TARIFFS ON US DAIRY PRODUCTS, THAT HAVE BEEN IN PLACE FOR DEDADES, HTUS HELPING THEM.

Trump PROVIDED $16 BILLION FINANCIAL AID TO FARMERS, (especially soy bean farmers) because he knew it would hurt them IN THE SHORT TERM, WHILE HELPING THEM IN THE LONG TERM and NOW THE CHINESE ARE COMMITTTED TO BUYING $200 BILLION MORE OF US PRODUCTS, ESPECIALLY AG.


TRY TO KEEP UP....
 
As a result, US manufacturing has seen job losses and higher prices for consumers.
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where is the increased inflation?
where are the manufacturing job losses?

study is bogus, it's an abstract divorced from the real world
 
dukkha said:
where is the increased inflation?
where are the manufacturing job losses?

study is bogus, it's an abstract divorced from the real world
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IT's the FUCKING BROOKINGS INSTITUTE, A PROPAGANDA ARM OF THE DNC.





The Brookings Institution: a Think Tank of Good Feelings


The Brookings Institution is generally presented as Democrats’ main think tank (a usually political center of research, propaganda and spreading of ideas),
https://www.voltairenet.org/article30065.html
 
Grokmaster said:
Farmers (especially DAIRY FARMERS) have been in financial straights for over a decade. HAS NOTHING TO DO WITH TRUMP. THE NEW US/CANADA/MEXICO DEAL WILL ELIMINATE CANADIAN TARIFFS ON US DAIRY PRODUCTS, THAT HAVE BEEN IN PLACE FOR DEDADES, HTUS HELPING THEM.

Trump PROVIDED $16 BILLION FINANCIAL AID TO FARMERS, (especially soy bean farmers) because he knew it would hurt them IN THE SHORT TERM, WHILE HELPING THEM IN THE LONG TERM and NOW THE CHINESE ARE COMMITTTED TO BUYING $200 BILLION MORE OF US PRODUCTS, ESPECIALLY AG.


TRY TO KEEP UP....
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The money Trump gave to farmers went mostly to the large Corporate farmers, the rest of them went bankrupt.
Committed? Do you believe in fairy tales, and the word of this administration. That 16 billion is your tax money, but what the fuck do you care, just so long as it isn't handed out by a black man.
 
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