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REPORT ABUSIVE REPLY
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Message Subject
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Trump- an economic disaster "Stocks' Second-Quarter Start Is the Worst Since the Great Depression
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Poster Handle
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Anonymous Coward |
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Post Content
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You DO understand that what you call a
"trade war"
will push more industry onto our shores.
Goods might cost more, but employment will be higher.
Quoting: Anonymous Coward 65291295 No, I do not and you have a comically simplistic view of economics. And it does NOT happen that way. Look, this all started because of Trump's punitive tariffs on Chinese steel. Do you know that Chinese steel accounts for 2% of our steel imports? Anyway, how will we magically grow new steel factories in the next few months? How much will it cost? A hell of a lot more than imports and product prices shoot up. Inflation. Discretionary spending drops. Durable good orders collapse. Our exports drop because China has retaliated with their tariffs Nobody, and I mean nobody believes that anyone can win a trade war between the world's tow biggest economies. It will be a process to regrow our industry. This will not happen all at once. China's additional tariffs will just bring more manufacturing to our shores. And yes, there will be trade-offs. That can never happen. Do you honestly believe that anyone wants to invest billions of dollars in steel mills that produce steel that is so expensive that it could never be exported anywhere? How long will that take? America isn't that kind of economy anyway, and hasn't been for 60 years. And you are OK with the cost of that steel causing everything from washing machines to cars to rise in price? Meanwhile, we lose exports on 128 items that the Chinese tariff, including agricultural and pork which will hurt family farms and cause layoffs for other products if they can't find a market. And don't forget...the EU hasn't fired back...yet. Maybe a little protectionism(there's an old word/concept) is just what we need.
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