Trump to impose tariff on steel and aluminium, geaux Trump!

Speaking of the other candidate...

In shot at Donald Trump, Hillary Clinton is correct about tariffs' role in Great Depression
http://www.politifact.com/truth-o-m...onald-trump-hillary-clinton-correct-about-ta/

An interesting part of the article recounts a part of Ferris Bueller's Day Off, where actor (and economist) Ben Stein goes through a history lesson:

 

Already included in a previous post, but seems to directly address this question:

https://www.theatlantic.com/politics/archive/2018/03/steel-tariffs-consequences/554690/

 

My understanding is that trying to win tariff wars are like trying to win nuclear wars.

 

So you admit protectionist policies are another form of welfare right or wrong? If you can't compete, the rest of the country shouldn't artificially prop up your company/industry and subsidize you. That's welfare at the cost of everyone else.

Are you getting your statistics on China from FoxNews Propaganda's latest talking point?

First,China isn't even in the top 10 of US steel imports. As usual, Fox News is FAKE NEWS.
https://www.trade.gov/steel/countries/pdfs/imports-us.pdf

Second, if a country is subsidizing certain industries, they're doing it to compete on a global stage. South Korea did this in the 60's and 70's to incubate several industries as a developing nation. It's what they did in order to compete globally. That's completely different than imposing trade tariffs.

 

Hey Trump supporters. Please educate yourself on tariffs.

https://www.economicshelp.org/blog/glossary/tariffs/

Tariffs are a tax placed by the government on imports. They raise the price for consumers, lead to a decline in imports, and can lead to retaliation by other countries.

Tariffs are an important barrier to free trade; they are often imposed to protect domestic industry from cheap imports. However, it often leads to retaliation with other countries placing tariffs on their exports.

 

Well, no: we know tariff wars don't work.
We haven't really tried a nuclear war yet! There's a chance that we could win!

 

if EU, Canada, China or anyone else raise tariff on US goods and services in response to Trump tariff, will Trump escalate the situation or will he do nothing.

 

By the way going back to this point..

This is the most delusional analysis of global economics I've ever heard. Must be a conspiracy! China is trying to monopolize the steel industry, then pump up prices later!

 

Trump supporters, like Trump, have no idea how things work. Lmao

 

No worries is no Trump supporter I believe.

 

economically speaking, it's Cutting off the nose to spite the face


score this one for Peter Navaro, Trump's trade advisor, over Gary Cohn, Trump's chief economic advisor

 

Amazing how Trump the businessman has no idea has global economics work.

 

Cheap beer prices will go up lol.

 

The Weekly Standard points to the same Bush tariffs fiasco, and then shoots down tariff-proponents' Reagan proofpoint:

The Steel Follies Redux

http://www.weeklystandard.com/the-steel-follies-redux/article/2011794#.WplZe1JQr_k.twitter

 

Your understanding is wrong, according to this VERY STABLE GENIUS I have been listening to:



It's easy!

 

This is called the multiplier effect.

 

Only bottled be beer from now on

 

He talks and thinks at the level of a 5 year old.

 

Yeah...let's not ever trade anymore with China...MAGA