Tarriffs caused job loss, higher consumer prices

[saidsimplesimon]

This discussion thread was locked as off-topic by NancyBlueINOklahoma (a host of the Democratic Primaries forum).

Last edited Sat Dec 28, 2019, 09:54 AM - Edit history (1)

https://www.marketwatch.com/story/fed-study-finds-trump-tariffs-backfired-2019-12-27

Published: Dec 27, 2019 3:13 p.m. ET

Gregg Robb
Senior Economics Reporter

2018 tariffs meant job losses, higher prices for U.S. manufacturing sector

President 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. more at link

EDIT to add DU discussion in progress

https://www.democraticunderground.com/10142412351

[oldsoftie]

1. And what is a tariff, really?

A tariff is a tax.

[Submariner]

2. Trump's response will be "I made thousands of other jobs to replace those lost and

the higher consumer prices will mean higher profits for businesses I created.” Trump will just lie and call it fake reporting by Democrat traitors.

His base will rave and cheer in delight, and then return to cleaning their guns.

[saidsimplesimon]

3. Yes, and farmers were given a big bailout.

Hypocrites claiming to be fiscal conservatives and are ok now with adding a Trillion to US debt?

[OKNancy]

4. oops, you posted in the Primary forum - Locking

please repost in General Discussion