in responce to trumps new tarrifs on mexican canadian and european steel mexico announced retaliatory tarriffs of their own on flat steels (hot and cold foil, including coated and various tubes), lamps, legs and shoulders of pork, sausages and food preparations, apples, grapes, blueberries, various cheeses
its expected that europe will impose equivalent tarrifs on thinks like harley davidsons
the net result is trump just imposed a tax hike on americans while at the same time hurting american workers…
Forgotten men and women farmers across the heartland thank you for your patriotism, as they are the ones who will suffer from this trade war. I’m sure the good, hard working members of my farming community town will appreciate your laughing at their pain.
I have plenty of compassion for these people as well. But hurting them, and others even more, is hardly a sign of additional compassion. There are significant issues that need to be addressed, however, blanket tariffs do not seem to be the wisest solution, if the goal is to protect American workers and farmers and businesses. Sure, this may save 2,000 jobs in the steel or aluminum industries, while costing 120,000 jobs across other sectors of business. Is that a win in your eyes?
I’m guessing that it will be you and me. I don’t particularly care. Mexico may pay in some indirect way, but I NEVER believed that we would actually receive a check from Meh-he co. But I never really cared either. I just want a wall.
I agree that the issue with China is important and needs to be addressed ASAP. But, from what I am reading, this will actually damage our ability to make end-roads on this front, as the EU especially tends to side with us on wanting to reign in China’s technology theft and acquisition practices. So, how does penalizing an ally help to bring them to want to side with us on this, or other issues?
Also, this is going to greatly slow down the negotiations with NAFTA, which are also important and need to be addressed. This seems to me to be short sighted, with several potential problems arising. Most of which will see pain at the door of American consumers and farmers, along with a host of other business sectors.
Time will tell obviously, but if this spirals into a tit-for-tat trade war, with retaliations flying across the globe, we could be in for some tough economic times ahead.