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Politics : Formerly About Advanced Micro Devices

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Eric
To: Bonefish who wrote (1519669)2/6/2025 7:39:46 AM
From: sylvester801 Recommendation   of 1582533
 
How CONVICTED FELON trump LOST His Trade War
When the U.S. breaks its treaties, only China wins.
By David Frum
February 5, 2025, 1:42 PM ET
theatlantic.com

Round one of Donald Trump’s trade war has come to an inglorious end. The United States has suspended its threats against Canada and Mexico in return for border-enforcement measures that Canada and Mexico either were doing anyway or had done before without making much difference in the flow of drugs. What can Americans and others learn from this costly episode—other than not to repeat it? The following:

American tariffs hurt Americans.
President Donald Trump has always insisted that tariffs are paid by foreigners, that they put free money into the U.S. Treasury. Trump’s week-long tariff war confirmed that nobody else in the U.S. government or in American business believes him. The National Association of Home Builders published a letter to the president predicting that his tariffs would raise the cost of housing construction. Automobile stocks slumped because investors expected Trump’s tariffs to add thousands of dollars to the cost of each new vehicle. The senior Republican in the Senate publicly pleaded for potash to be exempted from tariffs so as not to increase fertilizer prices for his farm constituents, belying Trump’s claim that the higher prices would be paid by the exporters.
...more
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