True. It's puzzling why he thinks that a trade deficit = "losing money". He's an economic illiterate. https://www.nytimes.com/2018/03/05/us/politics/trade-deficit-tariffs-economists-trump.html "Most economists do not see the trade gap as money “lost” to other countries, nor do they worry about trade deficits to a large degree. That’s because trade imbalances are affected by a host of macroeconomic factors, including the relative growth rates of countries, the value of their currencies, and their saving and investment rates. For instance, America’s trade deficit narrowed dramatically during the Great Recession, when national consumption faltered." https://www.forbes.com/sites/timwor...-foolish-idea-to-deal-with-them/#7734607c67b7
You haven’t paid attention to him. You’ve paid attention to what the media propagandizes. You also continue to lack the understanding of why Trump was elected. Voters in in fly over states understand what globalization damage has been done to them.
I rely on video and direct quotes. When I do go to the media, I'm sure to cover all sides. Playing make-believe that Trump hasn't been obsessed with trade deficits is either a lack of attention or willing self-deception. You continue to pretend that Trump's electoral success has something to do with a conversation about his grasp of basic economics. It does not.
I would conclude that you actually are Donald Trump posting during his "executive time", but your grammar and spelling are better than his are, and you don't inexplicably capitalize words. Put the koolaid down and grab a bottle of truth and reason. It tastes good.
Precisely. And, again, this is something typically covered in Econ 101. I can understand why your average Joe might not know this (and part of it is just linguistic confusion -- calling it a "deficit" in the first place was a poor choice of words), but the POTUS has no excuse for not doing at least a modicum of homework on this.
Trump clearly understands that restrictions on US exports costs US jobs. That’s why he won the election.
Globalization has been a net positive for our country. Trade creates wealth. It has harmed certain sectors of the US workforce. It has not "damaged" us overall. This nonsense is precisely what Adam Smith put words to paper to correct. It pains me to see Trump turn conservatives against capitalism like this. It used to be one of the few things they had going for them.
Restrictions on US imports cost US jobs. And Trump's electoral success has nothing to do with his economic understanding. The idiot still thinks that exporters pay tariffs, rather than importers, and that the trade deficit is a monetary loss. I shouldn't have to explain this, but votes don't make you right. No amount of votes will maaaaagically change reality so that trade deficits are monetary losses. A trade deficit of $1 million does not mean that the US has lost $1 million in trade. I hope you understand this. Trump does not.
Of course it has. And that is why Trump was elected. He understands the harm done by Chinese government subsidies and trade restrictions on US exports.
You think he is right about trade deficits . . . because he got votes. Then not only do you not understand basic economics, you don't even understand the basics of how the concept of truth and reality work. Trump is wrong about trade deficits being a monetary loss. You are wrong about trade deficits being a monetary loss. Pick up an Econ 101 text. Talk to any economist or read any economist since 1776. You folks are wrong, bud. I shouldn't have to explain this to any conscious being, but here it goes: winning an election does not make you omniscient. This may come as some surprise to you (it shouldn't, but based on your argument I can only assume it does), but Obama won two elections and he still got some things wrong. Do you seriously not grasp this? Truth does not change because of votes.
I know he is correct to attempt to reduce trade restrictions on US exports. I also know he is correct to defend US workers against unfair trade practices resulting in artificially low Import prices. That is truth and that’s why he won.
Is he right about trade deficits being a monetary loss? Is he right when he says that a trade deficit of $X means that we have lost $X in trade and we would be $X richer if we hadn't traded at all? Yes or no.
There are domestic manufacturers and foreign ones. When you buy an import, the foreign manufacture earns money from the American economy. Some American wealth moves abroad. Pretty simple. If one buys American made products, that doesn't happen. The purpose of tariffs is to protect domestic production. That could be a special interest group or not. I was talking economics, not politics.
It makes total sense when dealing with China. Who cares if they put a 20% tax on 100 billion of goods we export to them than if we can tax them 20% on 500 bill of goods we import from them. Now- I don't like how Trump is using the tariff money to help offset his tax cuts to the wealthy. If he was using that money to provide a higher standard deduction it would make more sense to me.
So we should allow a country to challenge us as the economic and therefore military superpower? Heh as long as you have cheap toys who cares about your kids.
