Global impact of Trump’s new tariffs: Which sectors will suffer?
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- Опубликовано: 8 фев 2025
- Less than 2 weeks into office, US President Donald Trump has spooked almost everyone by imposing tariffs on Mexico, China, & Canada. In retaliation, Canada has already announced its counter-tariffs, while Mexico and China are preparing to follow suit. Global stock markets have responded with fear and uncertainty. Investors quickly moved to buy dollars, sold off stocks, & expressed concerns about inflation, scrambling to assess the risks of a potential trade war following Trump’s decision. Staying true to his tough stance, Trump signed orders imposing 25% tariffs on imports from Canada & Mexico, & 10% duties on goods from China. For American families, this could mean higher prices across the board - from grocery aisles to car dealerships, electronics, & even at the gas pump. Here is what to expect. Watch!
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The USA's goods were subject to unequal tariffs - Trump needed to fix this.
Sometimes it's gotta be - "If you don't play be our rules, we''ll play by yours".
---From one with an Economics background, no fan of tariffs, and Libertarian Independent,
with no skin in the game for either major party.
Suggest a few Economics books
- to help arm oneself with the ability to cut through spin by Media, "experts", companies, and both major political parties.
Start with anything by Thomas Sowell, or "Economics In One Lesson", by Henry Hazlitt.
Examples of basic economic facts, that helped me cut through spin.
Trump's "tax cuts for the Rich", the invented narrative pushed by Democrats and their Media,
a rate closer to the Laffer Curve, resulted in:
A -The most income tax revenue and full-time job employment in history
B -$5K USD in annual tax savings for the average Middle Income family
Proof that any claim that Trump will damage the Economy isn't based upon evidence. Rather, upon TDS, or manufactured narratives of Leftists/Democrats.
Reference disgraced Economics Nobel Prize awardee, Paul Krugman.
A fair and real evaluation of an economy?
The increased or decreased need for Food Stamps is an excellent indicator of a president and political party's economic policy success, or failure.
Obama had 8 years at the wheel.
Result?
11 million more Americans became so poor, that they needed help to buy food.
Data:
43 million Americans on Food Stamps in 2016, up from 32 million in 2009.
Why?
Failed Leftist Democratic Party policies, again.
Another fair evaluation of an economy?
Consumer debt.
During Biden/Harris,
all increases in consumer spending were 100% matched by increases in consumer debt.
Why?
Marxist/Leftist Economic policies, including systemic racism/DEI.