Posted on 09/15/2018 7:57:37 PM PDT by BeauBo
NPR and other left-wing media outlets condemn President Trump for these tariffs.
I suppose I can see how short-term, nearsighted people who think in terms of financial quarterly profit reports might not like tariffs. Sure, tariffs can hurt for a week or two or a month or two.
But President Trump is thinking about the long-term benefit for the US. And, long-term, winning the tariff war against China and other nations will benefit the US. And we will win.
Trump is soooo much smarter than all those pundits; both liberal and conservative. The only thing they learned was Smoot Hawley. A piece of information, not wisdom.
“Trump’s tariffs against China didn’t work in July and August.”
The first tariffs just covered a small fraction (10%) of communist Chinese imports, and imposed a relatively small tariff (10%). There was a lot of advance ordering (stocking up) by people who anticipated tariffs. Regardless of the short term effects, long term, those goods are 10% less competitive.
The next round of tariffs, which is prepared (public comment period complete), will probably be announced this coming week. It will cover 40% , bring the total to half of all communist Chinese imports subject to an extra 10% tariff.
The President has already directed that the Commerce Department prepare tariff increases on the rest, which would take a few months, and bring all communist Chinese imports under a new 10% tariff. After that, they could be raised to 20%, 30%, or 300%.
The bottom line is that tariffs inexorably work, when set high enough,for long enough. It is like steering a mighty ship - slow to turn, but lot’s of momentum when it does.
“Trump’s tariffs against China didn’t work in July and August.”
The search for substitutes has not yet started in earnest.
Tariffs are just starting to roll out.
As tariffs rise, competitors will start taking business away from the communist Chinese companies. Those companies themselves will start moving more overseas.
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