Again- expected. Trump is trying to execute one of the craziest global negotiations in history. The entire world’s GDP is in scope…. And you thought April would be ok. lol.
Funny how the people who complained the economic recovery under Biden was too slow are now fine with a fast bomb. They’ll believe anything.
305- my point is, Trumpnis in the middle of a deal that involves every single nation on the planet.
Did we believe there would be no short term economic impact?
If nothing crazy like this was going on…. If it was BAU, then you’d all have a point.
What matters right now is…. What will the deal look like and do we come out of it with real growth or continued debt financed growth?
My point is, after covid, Republicans were quick to blame Biden for high gas prices and inflation.
Did Republicans believe there’d be no short term economic impact to the largest trade closure in modern history?
The difference was, Biden’s economy was recovering. Now, the word is still out on Trump’s ultimate performance, but it’s funny how Republicans preaching patience now were anything but last term.
Straight bs. Trump never said there would be any pains before he got elected. Nah, he said how great everything would be. He said both wars would be over. Amazing how the field goal posts always move back.
Why are you deflecting? I don’t think I ever blamed Biden himself for rising gas prices.
But if you want to get into that unrelated topic,
Gas prices rose for over a year of Biden in office. And never went back to the price levels when he took office.
Trump’s been president for how long? 3 months?
Tariff war started when? April 2nd? That puts us at 3 weeks.
If in 12 or 18 months this trade war is to blame for a long recession or massive layoffs or some crazy economic down turn- we can then use your gas example as an analogy.
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LOL…The 10% of what he said that YOU AREN’T EXAGERATING were believed by about 5% of Trump Voters
You fucking idiot.
I’m not deflecting, I’m saying it’s hilarious to see Republicans preaching patience with the economy.
But like I said, the jury is still out on Trump since he just started.
This is gibberish.
Trump’s tariffs are supposed to (1) reduce the trade deficits, particularly with China. (2) Intended to protect US manufacturing by making foreign goods more expensive. (3) force negotiation of trade agreements as seen as unfavorable to the US.
What they do NOT target is
1- How the US funds its economy (spending vs tax revenue)
2- the role of Treasury bonds or monetary policy
3- Federal deficits or national debt.
Debt financed growth = Budget policy
Congressional Budgets
Tax cuts (like the Trump tax cuts, ironically)
Massive spending bills (stimulus, defense, infrastructure)
Central bank interest rates and borrowing costs
Tariffs don’t fix or fund the debt. In fact, economists across the board said the tariffs hurt US manufacturers who relied on imported parts, increase cost for US consumers and don’t come close to generated revenue to offset deficit spending.
If tariffs could magically fix debt-financed growth, we’d be debt-free and swimming in surplus by now. But they don’t. Tariffs are about trade—debt is about budgets. Trump’s tax cuts actually increased the deficit. So unless his trade war also came with an invisible balanced budget amendment, this narrative is just wishful thinking wrapped in flag-waving.
The National Debt under Trump has grown $7.8 trillion, representing a 39% increase. The federal budget deficit under Trump grew by almost 50%, reaching near $1 trillion in 2019. This surge was fueled by the 2017 Trump tax cuts which reduced corporate tax receipts by 31% and increased government spending.
While Trump pledged to eliminate the national debt, his administration’s policies led to substantial increases in both the budget deficit and the national debt. These decisions have contributed to the ongoing reliance on debt-financed growth in the economy.
Regarding his “deal”, nothing whatsoever has surfaced other than more countries making deals with a more reliable China.
Ecuador recently became the fourth Latin American country to sign a trade agreement with China, joining Chile, Peru, and Costa Rica. This agreement aims to eliminate tariffs on nearly all of Ecuador’s exports to China within ten years
Asia-Pacific: China is actively pursuing free trade agreements with several countries and regions, including ASEAN, Honduras, Peru, and the Gulf Cooperation Council. Additionally, China is seeking to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA).
In contrast, the U.S. has faced challenges in securing new trade deals. President Trump’s withdrawal from the Trans-Pacific Partnership (TPP) in 2017 left a void that China has been quick to fill. Countries like Japan, Vietnam, and Malaysia, which were part of the TPP, have since strengthened trade ties with China. U.S. Treasury Secretary Scott Bessent recently described the ongoing trade war with China as “unsustainable,” suggesting a potential de-escalation in tensions.
While Trump claims to be making deals, the reality is most are turning to China for trade partnerships. China’s Belt and Road initiative encompasses 140 countries and 75% of the planet and over 50% of global GDP. Whereas Trump keeps changing his mind every 30 seconds.
Losing…over and over and over again