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Posted on 07/06/2018 7:36:16 AM PDT by GonzoII
The manufacturing sector added 36,000 jobs in June, the most in so far this year, even as fears grow that President Trump's trade war with China, Europe, and other nations could undermine those gains.
The Trump administration on Friday imposed new tariffs on $34 billion worth of Chinese goods. The Office of the United States Trade Representative is considering an additional $14 billion and Trump has threatened to increase that amount by as much as $500 billion.
China has pledged to impose dollar-for-dollar retaliatory tariffs. The country's Ministry of Commerce on Friday said the new duties violate World Trade Organization rules and mark the start of "the largest trade war in economic history to date."
The manufacturing industry has been booming since the Republican-only backed tax law went into effect at the start of this year. Capital spending is spiking as companies take advantage of a provision in the law that lets businesses deduct the full cost of non-real estate assets from their reported income.
(Excerpt) Read more at washingtonexaminer.com ...
The fighting is just getting started. You can’t fight a trade war without casualties, and the casualties can vote.
Who cares about a bunch of stupid farmers?
It is going to work itself out and the nation will be better off for it. This is not chump change that the President is focused on - it is jobs and real revenues.
a) foreign companies are reacting to the uncertainty of new tariffs by adding factories here to guarantee access to the US market (Foxconn);
b) consumers in the industrial supply chain are looking for US sources to avoid disruption, even if prices are marginally higher.
The author seems surprised that Trump's policies are doing what they were intended to do.
Furthermore, those higher prices are temporary. As supply chains get moved back to the US, increased domestic production takes place in response to the increased demand and eventually brings prices back to the previous equilibrium. All of the hysterical hand-wringing about the trade war causing permanent, long-term inflation assumes that domestic supply is fixed.
It's all about maximizing return on capital, no matter how much it screws the rest of society through rent-seeking and labor arbitrage.
To put it bluntly, there are many American businesses led by hucksters who think they are entitled to cheap labor and importing cheap junk, and who actually have no clue how to run a real business.
>> Who cares about a bunch of stupid farmers? <<
Farmers sell commodities. Commodities are largely immune to tariffs. If China buys from Canada instead of the U.S., the U.S. will sell to the companies Canada would’ve sold to.
www.capoliticalreview.com
“3 days ago - “Billionaire Democrat donor Tom Steyer called for a “nuclear war” to stop President Trump — then took back his comment after the interviewer ...”
Michael Moore And Bill Maher Realize They Are Trying To start a civil war with no guns... https://www.youtube.com/watch?v=OyhzkHV_qrs
Even the jerks on MSNBC are salivating over their wet dream the economy will collapse and THEY'LL get their power back. If it takes a trade war, or a nuclear bomb or a massive recession, they DON'T CARE BECAUSE 'ELITES' WON'T BE HURT.
Liberals WANT our country destroyed.
Corrupt evil democrats are working for the country to fail so they can get their power back... They are evil... Liberals don't give a damn about a ‘trade war’ because ‘elites’ won't be hurt - just the 'little people'. You have doubts? Watch them on MSNBC - they can hardly contain their glee at the thought the country might be damaged. It's creepy.
Under Obama, employers replacing three full time jobs with benefits with five part time jobs without benefits to avoid having to offer Obamacare plans is what counted as job growth.
Now we're getting the real thing again.
I guess Trump waved his wand.
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