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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWe're Losing Trump's Trade War
Were Losing Trumps Trade WarDespite Tariffs, the U.S. Trade Deficit Continues Rising
"Trumps tariffs are a tax on Americans, paid by companies who import goods and then either passed on to consumers or absorbed as reduced profits."
By David Cay Johnston, DCReport Editor-in-Chief
Link: https://www.dcreport.org/2019/11/12/trade-deficit-up-were-losing-trumps-trade-war/
(snips)
Candidate Donald Trump railed against Americas chronic trade deficits, vowing to eliminate them if he became president.
So, hows Trump doing? Awful. Trade deficits are growing on his watch. The overall trade deficit in September was 21% larger than during his first full month in office.
In 2016, under President Barack Obama, America imported $502.9 billion more in goods and services than it sold in exports.
In 2018, under Trump, that ballooned to $627.7 billion, an increase of $124.7 billion, and the deficit is on pace to run even deeper in 2019. For the nine months ending in September, the overall trade deficit was $481.3 billion, up $24.8 billion for the same period of 2018.
So, hows Trump doing? Awful. Trade deficits are growing on his watch. The overall trade deficit in September was 21% larger than during his first full month in office.
In 2016, under President Barack Obama, America imported $502.9 billion more in goods and services than it sold in exports.
In 2018, under Trump, that ballooned to $627.7 billion, an increase of $124.7 billion, and the deficit is on pace to run even deeper in 2019. For the nine months ending in September, the overall trade deficit was $481.3 billion, up $24.8 billion for the same period of 2018.
Sooo much winning - how in hell do we stand it?........
KY..............
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We're Losing Trump's Trade War (Original Post)
KY_EnviroGuy
Nov 2019
OP
Unpossible! Per Glorious Leader: US Farmers Will Get "Cash" From Tariffs
mahatmakanejeeves
Nov 2019
#1
mahatmakanejeeves
(57,290 posts)1. Unpossible! Per Glorious Leader: US Farmers Will Get "Cash" From Tariffs
Trump Lies: US Farmers Will Get Cash From Tariffs
November 17, 2019
Reuters reports:
President Donald Trump on Sunday welcomed a cash payout to American farmers before the Thanksgiving Day holiday that he attributed to China tariffs, but that money actually is part of a U.S. government aid package. The U.S. Department of Agriculture said on Friday it will begin making a second round of 2019 trade aid payments to U.S. farmers next week.
The payments are the second part of a three-tranche $16 billion aid package announced in May to compensate farmers for the U.S.-China trade war. China imposed tariffs on key U.S. agriculture exports including soybeans and pork last year after Trumps administration levied duties on Chinese goods.
....
November 17, 2019
Reuters reports:
President Donald Trump on Sunday welcomed a cash payout to American farmers before the Thanksgiving Day holiday that he attributed to China tariffs, but that money actually is part of a U.S. government aid package. The U.S. Department of Agriculture said on Friday it will begin making a second round of 2019 trade aid payments to U.S. farmers next week.
The payments are the second part of a three-tranche $16 billion aid package announced in May to compensate farmers for the U.S.-China trade war. China imposed tariffs on key U.S. agriculture exports including soybeans and pork last year after Trumps administration levied duties on Chinese goods.
....
Our great Farmers will recieve another major round of cash, compliments of China Tariffs, prior to Thanksgiving. The smaller farms and farmers will be big beneficiaries. In the meantime, and as you may have noticed, China is starting to buy big again. Japan deal DONE. Enjoy!
Link to tweet
KY_EnviroGuy
(14,488 posts)4. K&R. Thanks for that info.
I think Trump's Department of Alternate Reality has gotten more brazen as time has passed. No lie seems beyond them these days.
KY.........
Hoyt
(54,770 posts)2. Hopefully trump, and others, will realize global trade is here to stay and we
better learn to compete and cooperate, rather than whining, trying to throw our weight around, and demonizing foreign countries and their workers.
keithbvadu2
(36,655 posts)3. Remember? Trade wars are good and easy to win.
Remember? Trade wars are good and easy to win.
roamer65
(36,744 posts)5. I'm combating the tariffs by cutting my purchases.
No purchase, no tariff!
We need a recession next year.
gratuitous
(82,849 posts)6. Glorioski, nobody saw that coming!
Except, as usual, some dirty fucking hippies. But they don't count because shut up.
Initech
(100,038 posts)7. *pretends to be shocked*
Ms. Toad
(33,992 posts)8. Duh. (n/t)