The establishment media reporting President Trump’s economic battle with China is warning of massive new costs for American consumers.
Tariffs, after all, are paid by American consumers who buy Chinese products, reporters have needled White House officials into confirming.
But one columnist, admitting he is “no fan of the president,” has had enough of the “partisan, inaccurate drivel.”
Marketwatch columnist Brett Arends writes: “Yes, tariffs are ‘costs. But they do not somehow destroy our money. They do not take our hard-earned dollars and burn them in a big pile. Tariffs are simply federal taxes. That’s it. The extra costs paid by importers, and consumers, goes to Uncle Sam, to distribute as he sees fit, including, for example, on Obamacare subsidies.”
He went on: “It wasn’t long ago the media [were] complaining because Trump was cutting taxes. Now it’s complaining he’s raising them. Confused? Me too. And the amounts involved are trivial. Chicken feed.”
But now there’s even more ammunition for those who support Trump’s insistence on a fair trade relationship between the U.S. and China.
A study by the Coalition for a Prosperous America found that a potential 25 percent across-the-board tariff on all imports from China would deliver “significant, sustained benefits for the U.S. economy.”
It would create 1.36 million additional jobs and an additional $232 billion to GDP over five years, the study concluded.
“China’s rise has come at the expense of U.S. jobs and manufacturing,” said CPA Chairman Dan DiMicco. “This new research demonstrates just how much the United States stands to gain from reclaiming our manufacturing base. Blind adherence to free trade clearly hasn’t worked, and boosting domestic production should now be our top priority.”
The organization’s chief economist, Jeff Ferry, and senior economist, Steven Byers, built a “detailed model of U.S. trade with China to examine the effects of the imposition of a permanent, across-the-board 25 percent tariff on U.S. imports from China,” CPA said.
“The model showed that a 25 percent tariff boosted annual growth in U.S. gross domestic product each year in the five-year projection, contributing 0.2 percent of additional GDP growth in 2023 and 2024. Overall, this ‘permanent across-the-board 25 percent tariff’ (PATB-25) would add $232 billion to total GDP by 2024, equivalent to a $700 bonus for every American.”
As a result of such a tariff, some production would be moved back from China to the United States or to lower-cost third countries.
“Overall, this would stimulate both U.S. consumption and production, adding 365,000 manufacturing jobs. By 2024, $69 billion worth of annual production would have migrated from China to the United States,” the organization said.
“Our model demonstrates that across-the-board U.S. tariffs on Chinese imports stimulate the U.S. economy, increase U.S. production and jobs, and lead to a reduction in U.S. import costs over time,” Ferry explained.
“The model provides additional evidence that decoupling the U.S. economy from China and its predatory trade and subsidy practices will make the U.S. economy stronger, with more production, investment, and...
Ninety miles from the South Eastern tip of the United States, Liberty has no stead. In order for Liberty to exist and thrive, Tyranny must be identified, recognized, confronted and extinguished.
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Wednesday, May 15, 2019
AOC Suffers From This Specific Medical Condition....
OUCH: Former Obama economic adviser slams AOC for making ‘the most economically ignorant statement he’s ever read’ and LOL
...me neither..
Typical Politician:Do As I Say Not As I Do...
Deep Thoughts With Alexandria Ocasio-Cortez #7...
Deep Thoughts With Alexandria Ocasio-Cortez #5...
Deep Thoughts With Alexandria Ocasio-Cortez #4...
Deep Thoughts With Alexandria Ocasio-Cortez #2....
Deep Thoughts With Alexandria Ocasio-Cortez #1....
The Lunatic Fringe Episode #2
FAIR WARNING:
If you are far left of center, this will trigger you.
This will upset you.
DO NOT UNDER ANY CIRCUMSTANCES CONTINUE
BEYOND THIS POINT.
BEYOND THIS POINT.
Now if you have a healthy sense of humor, prepare for leftist lunacy that we will mock, laugh at, and disparage in every way possible. We will intentionally trigger leftists, and enjoy every second of it.
Trump's China Tariffs Will Succeed
For the last four decades, the United States has often engaged in trading away its future by running up debt and selling assets instead of products. This brought about the stagnant living standards and incomes experienced by the U.S. middle class during the presidencies preceding Trump.
The countries with which the U.S. had the largest trade deficits (goods and services) in 2018 were:
On Friday, President Donald Trump took a huge step toward doing just that. He raised the U.S. tariff rate from 10% to 25% on $200 billion per year worth of Chinese goods that were being imported into the United States. Back in July, when Trump had initially imposed the 10% tariffs on Chinese imports, China responded by imposing tariffs on $110 billion of U.S. exports to China.
Trump also threatened to place tariffs on the other Chinese goods being imported each year into the United States. This gives the U.S. leverage that China can’t match. As a result of its mercantilist strategy, China exported $540 billion worth of goods to the U.S. but only let $121 billion worth of U.S. goods into China in 2018. (Mercantilism is the “beggar-thy-neighbor” economic strategy of maximizing exports and minimizing imports in order to grow at one’s trading partners’ expense.)
China has been engaged in economic warfare against the U.S. for decades. China leverages all available means to achieve its mercantilist ends -- from manipulation of its currency, to tariffs, to non-tariff barriers, to forced technology transfer, to outright stealing of technology.
The negative consequences of China’s trade policies have hit many parts of the United States and many regions of the U.S. economy. Innovation, marriage, health, and welfare suffered as a result of what economists term the China shock.
The massive trade surpluses accumulated by China have reflected and catalyzed the massive transfer of technological and manufacturing capacity from the free world to China's censored, repressed, firewalled, and very much unfree...
The countries with which the U.S. had the largest trade deficits (goods and services) in 2018 were:
- China - $379 billion
- Mexico - $78 billion
- Germany - $67 billion
- Japan - $58 billion.
On Friday, President Donald Trump took a huge step toward doing just that. He raised the U.S. tariff rate from 10% to 25% on $200 billion per year worth of Chinese goods that were being imported into the United States. Back in July, when Trump had initially imposed the 10% tariffs on Chinese imports, China responded by imposing tariffs on $110 billion of U.S. exports to China.
Trump also threatened to place tariffs on the other Chinese goods being imported each year into the United States. This gives the U.S. leverage that China can’t match. As a result of its mercantilist strategy, China exported $540 billion worth of goods to the U.S. but only let $121 billion worth of U.S. goods into China in 2018. (Mercantilism is the “beggar-thy-neighbor” economic strategy of maximizing exports and minimizing imports in order to grow at one’s trading partners’ expense.)
China has been engaged in economic warfare against the U.S. for decades. China leverages all available means to achieve its mercantilist ends -- from manipulation of its currency, to tariffs, to non-tariff barriers, to forced technology transfer, to outright stealing of technology.
The negative consequences of China’s trade policies have hit many parts of the United States and many regions of the U.S. economy. Innovation, marriage, health, and welfare suffered as a result of what economists term the China shock.
The massive trade surpluses accumulated by China have reflected and catalyzed the massive transfer of technological and manufacturing capacity from the free world to China's censored, repressed, firewalled, and very much unfree...
When Reality Slaps You In The Face...
When You Begin To Understand That Separating Sports By Gender Is A Privilege And Women Athletes Cannot Complete With Men Athletes, And Democrats Are Mentally Ill.
Papadopoulos: John Brennan is Lying – CIA Targeted and Spied On Me In London
George Papadopoulos says that John Brennan the former CIA Director was lying when he told MSNBC this week that the agency does not spy against “domestic individuals.”
“That’s the reason why I was flown to London, to be spied on, and why the British were also meeting with me and probing me on the same exact day that these two figures were paying me and spying on me and recording my conversation,” Papadopoulos said.
“Yeah, usually the CIA doesn’t spy domestically, and that’s why they brought me to London to meet Stefan Halper and this informant,” he told MacCallum. “So I have to highly disagree with John Brennan and I think the CIA is up to their neck in this.”
“That’s the reason why I was flown to London, to be spied on, and why the British were also meeting with me and probing me on the same exact day that these two figures were paying me and spying on me and recording my conversation,” Papadopoulos said.
“Yeah, usually the CIA doesn’t spy domestically, and that’s why they brought me to London to meet Stefan Halper and this informant,” he told MacCallum. “So I have to highly disagree with John Brennan and I think the CIA is up to their neck in this.”
GOWDY: FBI CITED ARTICLES AND INFO FROM CLINTON ALLY TO CORROBORATE STEELE DOSSIER
- Former Republican South Carolina Rep. Trey Gowdy dropped a potential bombshell Tuesday regarding what information the FBI relied on to corroborate claims in the Steele dossier.
- Gowdy said when he was in office, he saw an FBI spreadsheet that cited news articles and information from longtime Clinton insider Sidney Blumenthal as corroboration for the dossier.
- Gowdy did not identify what information from Blumenthal was cited, but the Clinton ally shopped around a dossier of his own containing allegations about Donald Trump.
Former Republican South Carolina Rep. Trey Gowdy claimed Tuesday the FBI cited articles and information from longtime Clinton fixer Sidney Blumenthal as corroboration for claims made in the Steele dossier, a scenario the former congressman called “a problem.”
In an interview with Fox News’ Martha Maccallum, Gowdy said when he was still in Congress, he saw an FBI spreadsheet that laid out all of the specific claims in the dossier, which former British spy Christopher Steele authored. The spreadsheet also cited information the FBI believed corroborated Steele’s salacious report, he said.
“I’ve seen the spreadsheet, Martha, I have seen each factual assertion listed in that dossier, and then I’ve seen the FBI’s justification. And when you’re citing newspaper articles as corroboration for a factual assertion that you have made, you don’t need an FBI agent to go do a Google search,” said Gowdy, who served on the House Intelligence Committee and is a Fox News contributor.
“When the name Sidney Blumenthal is included as part of your corroboration, and when you’re the world’s leading law enforcement agency, you have a problem.”
Gowdy did not further explain how the FBI used information from Blumenthal, but his claim could be a potential bombshell as investigators probe the FBI’s use of the dossier in its investigation of possible collusion between the Trump campaign and Russian government.
WATCH:
Congressional Republicans have accused the FBI of improperly relying on the unverified dossier to obtain surveillance warrants against former Trump campaign adviser Carter Page. The have also faulted the FBI for failing to tell surveillance court judges that Steele was investigating the...
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