America's trade deficit increased by 34% in January
To more than $130bn as imports spiked in response to the threat of tariffs.
Source: US Commerce Department.
Source: US Commerce Department.
36-40, F
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BizSuitStacy · M
So eventhough everyone is crapping about Trump's tariffs (which haven't been implemented yet) imports still increased, and the cost of those imports spiked. 😂😂😂
I'm not even sure what your point is.
Watch the trade deficit shift once the tariffs are in place.
I'm not even sure what your point is.
Watch the trade deficit shift once the tariffs are in place.
SunshineGirl · 36-40, F
@BizSuitStacy I am interested in economic facts and figures. I am interested in the unorthodox economic views of populist leaders such as Trump and I like to test them against reality.
If countries reciprocate effectively with tariffs of their own, the deficit will not shift one cent.
If countries reciprocate effectively with tariffs of their own, the deficit will not shift one cent.
BizSuitStacy · M
@SunshineGirl You clearly have issues with facts and economic theory.
What is a trade deficit?
That's when imports exceed exports.
The January increase in the trade deficit (in dollars) was due to a combination of increasing imports along with a significant increase in inflation. Exports also increased slightly.
Now...who was president in January? Biden until January 20th, then Trump. So ⅔ of the month was under Biden, as the country ramped up for Trump for the last ⅓. When do the Trump tariffs go into effect? April.
So how is this connected to Trump.
What is a trade deficit?
That's when imports exceed exports.
The January increase in the trade deficit (in dollars) was due to a combination of increasing imports along with a significant increase in inflation. Exports also increased slightly.
Now...who was president in January? Biden until January 20th, then Trump. So ⅔ of the month was under Biden, as the country ramped up for Trump for the last ⅓. When do the Trump tariffs go into effect? April.
So how is this connected to Trump.
I am interested in the unorthodox economic views of populist leaders such as Trump and I like to test them against reality.
Tariffs have been used since before the industrial revolution. Suddenly they're unorthodox 🤣If countries reciprocate effectively with tariffs of their own, the deficit will not shift one cent.
They already apply tariffs...and reciprocal tariffs will be met with US reciprocal tariffs. We're sick of Mexico and Canada not protecting the borders. Guarantee US citizens will focus on buying US goods. About a third of Mexico's GDP depends on exports to the US. 22% of Canada's GDP depends on exports to the US. 1% of the US GDP is dependent on Mexico and Canada respectively. Trump holds the cards, as usual.
SunshineGirl · 36-40, F
@BizSuitStacy Markets have been adjusting to Trump's announcements since early November, that is why they have been so volatile. Nothing about the policies of President Biden plausibly explain this spike in imports.
The unorthodox bit is his insistence that artificially restricting trade will not lead to inflation 🙂
Yep, I think we're in danger of going down the same rabbit hole as the Dear Leader. Are tariffs for:
(1) Extracting concessions from or changing the behaviour of other countries? (less than 1% of fentanyl consumed in America crosses the Canada border - the flow of illegal firearms in the opposite direction is far more harmful)
(2) Protecting domestic industries?
(3) Replacing income taxes?
(4) Reducing the fiscal deficit?
Trump flits from one idea to another, with little rhyme or reason.
The unorthodox bit is his insistence that artificially restricting trade will not lead to inflation 🙂
Yep, I think we're in danger of going down the same rabbit hole as the Dear Leader. Are tariffs for:
(1) Extracting concessions from or changing the behaviour of other countries? (less than 1% of fentanyl consumed in America crosses the Canada border - the flow of illegal firearms in the opposite direction is far more harmful)
(2) Protecting domestic industries?
(3) Replacing income taxes?
(4) Reducing the fiscal deficit?
Trump flits from one idea to another, with little rhyme or reason.
BizSuitStacy · M
@SunshineGirl When Trump won in 2016, the stock market went down initially because everyone expected Hillary to win. All the liberals screamed, "See!? See!? Trump is going to cause a depression." Or did you conveniently forget that. Never happened either.
The market tanked under Biden for a bit. We even had two consecutive quarters of negative GDP. The WH tried to change the definition of a recession.
We had mass inflation under Biden, and the left tried to tell us it was under control when prices wouod stay flat for a month, and then ignore any inflationary pressure the following month.
Trump knows exactly what he's doing. He applied tariffs to China in his first term. No one batted an eye. Suddenly he wins his 2nd term, and the globalists know they're finished, so tariffs are evil...eventhough every country in the world has used them.
And you are hanging on daily economic changes...any little market disruption, and it's the 2016 narrative all over again.
You can't even hide your hypocrisy.
In the meantime, your communist prime minister can't decide what to do about Ukraine, but the Nazi will happily jail anyone posting a meme complaining about Muslim gang rapes. Your own house is a total pile of shit, so I guess you need to point fingers elsewhere.
The market tanked under Biden for a bit. We even had two consecutive quarters of negative GDP. The WH tried to change the definition of a recession.
We had mass inflation under Biden, and the left tried to tell us it was under control when prices wouod stay flat for a month, and then ignore any inflationary pressure the following month.
Trump knows exactly what he's doing. He applied tariffs to China in his first term. No one batted an eye. Suddenly he wins his 2nd term, and the globalists know they're finished, so tariffs are evil...eventhough every country in the world has used them.
And you are hanging on daily economic changes...any little market disruption, and it's the 2016 narrative all over again.
Are tariffs for:
(1) Extracting concessions from or changing the behaviour of other countries? (less than 1% of fentanyl consumed in America crosses the Canada border - the flow of illegal firearms in the opposite direction is far more harmful)
(2) Protecting domestic industries?
(3) Replacing income taxes?
(4) Reducing the fiscal deficit?
You're the one who thinks she's some sort of economics expert. Tariffs have been utilized since before the industrial revolution. Every country uses them. Oh...but they're bad when the orange man does it.(1) Extracting concessions from or changing the behaviour of other countries? (less than 1% of fentanyl consumed in America crosses the Canada border - the flow of illegal firearms in the opposite direction is far more harmful)
(2) Protecting domestic industries?
(3) Replacing income taxes?
(4) Reducing the fiscal deficit?
You can't even hide your hypocrisy.
In the meantime, your communist prime minister can't decide what to do about Ukraine, but the Nazi will happily jail anyone posting a meme complaining about Muslim gang rapes. Your own house is a total pile of shit, so I guess you need to point fingers elsewhere.
SunshineGirl · 36-40, F
@BizSuitStacy I believe in free trade, as this promotes prosperity and peaceful cooperation between nations. I oppose protectionist tariffs in any form, irrespective of who levies them. It is a tragic waste of economic potential and political goodwill.
I am well aware of history. The repeal of the Corn Laws in Britain in 1846 (tariffs on imported foods and cereal grains) brought an end to 32 years of artificially inflated food prices that benefited farmers at the expense of the rest of the population. By opening up markets we alleviated famine in Ireland, transferred wealth from the richest 10% of the population to the poorest 90% (I understand this point may be distressing to conservatives), and paved the way for 60 years of unprecedented prosperity.
I am well aware of history. The repeal of the Corn Laws in Britain in 1846 (tariffs on imported foods and cereal grains) brought an end to 32 years of artificially inflated food prices that benefited farmers at the expense of the rest of the population. By opening up markets we alleviated famine in Ireland, transferred wealth from the richest 10% of the population to the poorest 90% (I understand this point may be distressing to conservatives), and paved the way for 60 years of unprecedented prosperity.
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