It didn’t last long….
He’s back to just showing how out of touch he is with reality….
This time he’s talking about a 35% tariff on imported good’s from Mexico by America companies….
He’d probably do the same to China….
Hmmmmmm?
Somebody want to tell us how many American’s would LOSE their jobs because of this?
Somebody want to tell me who besides Trump will be able to buy stuff if China and Mexico STOP shipping stuff here?…Unlike his numerous bankruptcies?…Ya can’t mess things like this up and just walk away….
And does Trump think countries around the planet are just gonna accept this ?
The guy thinks all of this is just one big game , with no regard to the human factor that leaders of countries HAVE TO take into account…
(Hillary Clinton has also called for action against China..But NOT of the magnitude that Trump is calling for…)
Republican presidential candidate Donald Trump shot down critics of his strategy to prevent American companies from outsourcing, brushing off the idea of a trade war.
Trump touted his proposal for a 35 percent tariff on imports into the United States from the American companies that have outsourced to Mexico.
“At least the United States is going to make a hell of a lot of money,” Trump said at a fundraiser for New Jersey Gov. Chris Christie. “And these dummies say, ‘Oh well that’s a trade war.'”
“Trade war? We’re losing $500 billion in trade with China. Who the hell cares if there’s a trade war?” Trump continued. “$500 billion and they’re telling me about a trade war.”
Trump quickly added, “You’re not going to have a trade war,” predicting “China will behave” and “respect our country again” after slamming the country’s currency manipulation….
Note….
Mr. Petri, the Brandeis economist, examined the economic impact on the U.S. economy of imposing 45% tariffs on China, 35% tariffs on Mexico and 10% tariffs on the rest of the world.
Those conditions are likely to unsettle global markets, and boost the value of the dollar.
The tariffs would drive down U.S. merchandise imports by $383 billion, he calculates, but U.S. exports would take a much bigger hit, declining $658 billion.
Although the estimates are subject to “considerable uncertainty,” he says, they give an idea of the economic pain the nation would suffer. U.S. consumers and industries would face higher import costs and perhaps shortages as domestic companies take time to gear up.
Gordon Hanson, an economist at the University of California, San Diego, says that a high-tariff U.S. economy would become more self-sufficient, but costs would be significantly higher for many of the nation’s largest exporters.
“That would take the fire out of the tech-sector boom,” he says, and “undermine our standard of living in many ways.”
Share on Facebook