Biden's decision was based on politics and looking soft on China not based on economics.
Well, our Poor
- Thread starter ElectricalCock89
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Biden's decision was based on politics and looking soft on China not based on economics.
So they were successful. Got it. But on the other hand, you are ready to call these tariffs unsuccessful after just two days. Never mind that everyone and their brother said this was going to be a rough start. I get it though, gotta complain while you can. That's how yall roll. Clock is ticking.
Correct. The textile mills crapped out well before they closed and were rough places to work.
Worker safety was an afterthought. Minimum wage jobs (and sometimes less than that) and long hours. Mostly low skilled, immigrant labor, including illegal immigrant labor.
and of course making the product much, much cheaper in South America for all those Americans that don't want to spend much money ok t shirts and shorts.
I pointed out the Republicans attacking these tariffs in response to your post and the fed chair saying today that this causes inflationary pressure.
He removed some and didn't remove others.
Biden's tariffs were more specific and targeted overall, right or wrong.
Its' sort of what China did today. They were very targeted- example- banning imports of chicken from the top 3 american poultry companies.
Total bullshit. I worked summer jobs in one during the mid 80s. I made well over minimum wage as a high school summer hire. And safety was absolutely a TOP priority. And there wasn't an immigrant in site.
No clue what you are talking about. These textiles were solid mid-class jobs and VERY community oriented. Bedrocks of the community. And when they left, those communities were decimated. Go asked the people around Chester and Fort Mill and Lancaster. They were devastated when those jobs were lost.
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This is what I truly can't comprehend about you guys. You're so committed to one party that you're literally willing to destroy the world economy just to support "your guys." Literally, everyone knows how this will end up. It has no chance to be successful.
If the Democrats ever did what Trump has done the past few weeks, I would gladly vote Republican in the next election.
I truly can't comprehend being ok with being so wrong.
Of course they were hurt bad when they lost jobs. Who the hell would argue they were great to lose jobs?
in 1990, there were 3,258 textile and apparel jobs lost in 17 plant closings in South Carolina - three times the number of those jobs lost in all of 1989, and more than in 1988 and 1987, according to the State Development Board.
The plant's owners blame a variety of factors: the inability to modernize old buildings, lack of operating capital and the perennial villain, cheaper imports. "It's an industry that's living on the edge," said George Wino, an economist for the American Textile Manufacturers Association. "
"A lot of the recent closings are old, outdated mills that haven't been modernized," said Dr. Frank Hunter, a professor at Clemson University's College of Commerce and Industry. Those plants were destined to be closed at some point, but the pressure to compete in a changing marketplace is causing them to shut down now, he said. "A mill running 40- and 50-year-old looms just won't be able to compete," Hunter said.
The textile industry has a long history of dealing with workplace safety issues, including cotton dust and long term exposures in aging workers.
you plant might have been fine back in the 1980s - and some plants did a solid job. Historically, textile plants have been tough places to work for many people.
Stephen Moore, a Trump economic advisor from his first term was on Fox today saying he disagreed with a lot of these tariffs and this approach. I wasn't on Fox saying that. Moore was.
Maybe, just maybe, if these seemed a little bit strategic as opposed to placing tariffs on some uninhabited islands and focusing a bit would help a little.
As one business owner said today on Sirius radio when he was asked if he would consider moving producing to the United States- answered that he's have to shut his business down if he did that. He also added Trump's unpredictability made things worse. That he wasn't about to spend money he didn't have to build an American facility then see Trump reverse course a year from now.
You accuse others of having faith in certain Democrats and here you are spouting unquestioning cult faith in Trump when the market has lost 3,000 points in 2 days and numerous investment banks are saying that a recession is quite possible- and even Republican senators are blasting the moves.
Even with unlimited funding and political will, it takes years to reskill a labor force and rebuild infrastructure. Formal trade apprenticeships typically require four years, according to the Bureau of Labor Statistics. And Intel estimates building semiconductor fabrication plants takes three to four years to complete.
Policy uncertainty is another major barrier. Companies hesitate to make long-term investments when trade policies could change within months or less.
Companies “won’t even start trying to hire and train people until they are convinced that there are permanent tariffs,” said Richard Mansfield, an economist at the University of Colorado Boulder. Instead of boosting domestic production, he said, it is likelier that companies will raise prices, find alternative suppliers — Vietnam, Chile — or both.
That played out during Trump’s first term when, under the threat of tariffs, companies moved production from China to Mexico.
Dennis Hoffman, an economist at Arizona State University, framed the tariff impact more bluntly: “You end up hurting consumers across the entire United States.”
The White House is using tariffs to restore manufacturing. Data suggests it will take time.
Manufacturing jobs and infrastructure have shrunk since the 1970s, and it would take years to raise them back up.
www.nbcnews.com
Service strength
Meanwhile, a focus on producing goods overlooks another reality: America holds a global advantage in exports of services driven by business, travel and intellectual property.The United States’ $25.2 billion services surplus is often hidden by its $156.7 billion goods deficit.
Tariffs ignore that economic reality, leaving consumers with higher prices for basic goods and less to spend in the areas in which our economy excels, Hoffman said: Cheap goods mean “more money to save, to invest, to allocate elsewhere — we’re far better off because of access to international trade.”
Deficits are not necessarily negative. “If you run a trade deficit, you’re not a loser,” Hoffman said. “We run trade deficits because we consume — our appetite for consumption is greater than our capacity to produce.”
Yeah, it's hard to spend money on modernizing plants when you are under financial pressures from cheap imports. They weren't destined to be closed. They had to close because they couldn't afford to modernize and still compete with a kid making the same product overseas for pennies a day.
If Democrats want to force higher wages on companies that produce goods here, then they should be willing to apply tariffs to level the playing field for imported products.
3000 down and 10,000 to go. Results of biden inflation and a over valued stock market. Everyone was warned. This is one of many genius moves to save ourselves. It’s hilarious people are losing their minds because of their sheer ignorance. To think you can undo the massive destruction we’ve seen over the last four years without any consequences is ridiculous. People are so soft mentally and emotionally today. Time to pull some weeds.
Uh oh. I told you guys weeks ago this dude didn't even believe the lies he was telling.
That is the truth. When Trump uses these tariffs as a temporary tool to get what he wants, these people will be on to the next "panic" and pretend they never complained about the tariffs.
It's just the latest TDS symptom.
As a Trump supporter, I am deeply concerned about the direction of the economy. I agree with many of the socially conservative things he has implemented but I’m a hard No on this tariff policy. I get the unfairness in the way the U S is treated but destroying the U S economy is not a solution. I guess I was naive- never thought he would go this far in such a haphazard way in constructing tariffs. I could see a more targeted approach. Also not convinced this will result in an influx of new jobs and manufacturing. Understand there is a push by some who Would like to see Congress step in to perhaps halt some of this. My main concern at this point is Trump’s ego will not allow him to admit this may have been a foolish approach and reverse course Am I now anti-Trump? No but my support is not as strong simply because of this one issue
No pain no gain. Nothing comes easy ESPECIALLY when you’re trying to correct our entire government in the face of all the pure EVIL fighting against you for survival. These people will do anything and I mean anything to keep their bottomless never ending slush funds, bribes and full immunity from our laws. Make no mistake this will be a battle to the death. Total elimination of the deep state is a must to make America great again. They’re like maggots, infested in every crack and crevice of the entire fabric of America society. This will get much worse. This is the fight of our life. Trump is willing to sacrifice his life without flinching. Maybe we could at least suck it up and not bitch. Maybe at the very least support him? Just sayin
The problem is Trump doesn't even know what he wants out of the tariffs. But that lack of clarity is what will allow you to claim victory no matter what.
He knows exactly what he wants out of it. You should too. It's the same trick the Dems pulled with the Inflation Expansion Act and the IRS.
Think about what you did with the Inflation Expansion Act and you will know. DOGE is part of it too.
It's ok we know you have no idea what his actual goal is with tariffs.
He doesn't either unfortunately.
But you and your TV media do?
Makes sense since you guys have been correct about everything up until this point.
Sit back and let the adults try to straighten out everything Biden and Obama screwed up.
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Our House Gomers want this and his money printer back because their portfolio is returning to non-artificial levels and their favorite TV actor said Trump is bad again. True Liberals in every sense of the word.
In justifying his latest tariffs announcement, President Donald Trump complains of unfair trade deficits, saying the US has been “looted, pillaged, raped, plundered” by other countries for decades.
What he has left out in his repeated criticisms is the trade surplus the US benefits from when it comes to his country’s service industry.
Services make up about 70 percent of the US economy. That includes a wide range of businesses, including education, healthcare, travel and hotels, financial services, as well as media and entertainment, insurance, maintenance and repair, and charging for the use of intellectual property, among others.
Exports of these services contribute approximately 25 percent of the US economy, economists say.
“The US has a strong comparative advantage in several major service industries: education, health, finance, law, accounting, entertainment. That explains the trade surplus,” said Gary Huffbauer, nonresident senior fellow at the Peterson Institute for International Economics.
In 2023, the US exported services worth $1.02 trillion, up 8 percent from a year earlier, and imported services for $748.2bn, up 5 percent. That left it with a trade surplus of $278bn, a trend stretching back at least two decades.
“Trump may be ignorant of the services trade surplus, but more likely he thinks he can get more popular approval by talking about deficits in manufactured goods,” Huffbauer added, pointing to the auto worker who Trump brought during his tariff announcement on Wednesday as an example of support for tariffs among the US working class.
Rachel Ziemba, an economist and adjunct senior fellow at the Center for a New American Security, agreed that it was “a puzzlement” that Trump never referred to this metric.
“He was the same way in his first term, underemphasising services, despite the fact that he spent his career in services,” said Ziemba, referring to Trump’s real estate, tourism and entertainment ventures, all of which come under services.
“But it is surprising he doesn’t look at the whole picture and at the ways in which his policies put services at risk. Plus, cutting research undermines advanced manufacturing. His whole team underestimates services,” Ziemba said.
Trump’s latest harsh tariff policies will leave the US services sector vulnerable to retaliation.
Foreign countries can deny operating permits for US business firms and can tax digital services, Hufbauer said. They can also temporarily suspend copyright, trademark and patent rights or prohibit the payment of royalties.
Americans don't want to pay $35 for a t-shirt they know they can buy for $9.99. I don't know what else to tell you. Anyone with an ounce of common sense knows Americans will revolt if they find themselves at Walmart buying toys for the kids that cost $14.99 today but is going to cost $35.99 in a few years because instead of it being made in China, it's now made in Orangeburg, SC.
You can't put the genie back in the bottle no matter how much you wish you could pay more for the same t-shirt.
No, Americans are not going to make a "living wage" by working in industries where tens of millions of consumers know they can get the same product for 1/4th or less of the price.
and China removing whatever tariff they have on their products is not going to make Joe Business Owner decide to open a toy manufacturing plant in Orangeburg because he still can't compete with China on toys. They have numerous advantages that he doesn't have no matter what he does.
They should be able to make a living wage working in other industries, learning to operate equipment controlled by robotics and computers, etc as well as all the service based industries. They aren't going to make a living wage working for Joe at his fictionaly plant in Orangeburg making toys that Joe is losing money on already.
Ahh yes, the "you should like it that the market is where it was 2 years ago" approach.
Is as well received as the "you should like the salary you made several years ago" approach.
LOL
I've also heard that he is not happy. I don't know what will happen, but this is clearly not what he signed up for. His approach is way different as well as his fundamental beliefs.
I mean, he's actually said that making cheap goods is not the future for America. So his beliefs are very different. Time will tell. Surely, he will hang on a bit longer. This is not really the job he wants anyway.
Gomer - Why do you keep using the T-shirt analogy? 🤣
For example, Vietnam has already agreed to drop their tariffs in exchange for us dropping theirs.
You'll still be able to get your cheap T-shirt at Walmart.
Erin Burnett and her TV Economist ringers have our House Gomers sacred to death of losing their riches.
