These are not retaliatory tariffs & the media should not use that term. They are based on US bilateral trade balance with each country. This makes no sense. A bilateral surplus is not a reflection of “cheating”. We run a surplus with Australia, not because we cheat but bc they want things we make. - ThreadSky

jaycshambaugh.bsky.social • 3 days ago

These are not retaliatory tariffs & the media should not use that term. They are based on US bilateral trade balance with each country. This makes no sense. A bilateral surplus is not a reflection of “cheating”. We run a surplus with Australia, not because we cheat but bc they want things we make.

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infinitejeff.bsky.social•3 days ago

I'm a dumbass economically speaking but isn't the likely outcome of the tariffs that they *increase* the trade imbalance via onshoring and rebuilding American industry?

uscivilwar.bsky.social•3 days ago

And also, trade with two given countries will almost never be "balanced" absent some kind of government force, because it just doesn't work like that.

Even countries with big export sectors have wildly varying trade balances with any govern trade partner, and it changes year-to-year.

hedgehoggrl.bsky.social•3 days ago

Thanks for this. Trump's talk about getting even with countries that are "ripping us off" sounds good to a lot of people. I felt instinctively that the US wasn't suffering the kinds of tariffs Trump says he's "retaliating against," but I can't find any MSM source explaining that to people.

branewave.bsky.social•3 days ago

Of course we’re punishing Australia with a 10% tariff because mumble mumble

bathshebablue.bsky.social•3 days ago

As usual the complicit MSM happily parrots trumps lying rhetoric.

rimbrakemonkey.bsky.social•3 days ago

1000x this

shaunbridges.bsky.social•3 days ago

So we can retaliate as citizens and ==choose== not to purchase their exports, whilst their citizens can choose to pay more for ours, and likely pay more for locally made products as the market puts prices up because they can....

laspezia23.bsky.social•3 days ago

https://skywriter.blue/pages/did:plc:y77n77kdqzhbg647blkfypyr/post/3lluxkmx7wc2m

jaycshambaugh.bsky.social•3 days ago

I’ve met with Australian policymakers many times. They’ve never complained about our surplus. They want things we sell. Australia runs a huge surplus with China. They are not cheating China. Nor do they have barriers tilting that trade. China just wants their minerals.

jaycshambaugh.bsky.social•3 days ago

There are countries with higher barriers than what our tariffs were prior to this policy. This policy does not target them. And, other countries really don’t have much ability to tilt the bilateral balance. It’s not a policy choice of theirs.

jaycshambaugh.bsky.social•3 days ago

The silliness of using bilateral balances to calculate all this would be laughable. But it’s not funny. This affects people’s livelihoods and businesses.

jaycshambaugh.bsky.social•3 days ago

Last point. The whole exercise is revealed as ridiculous in that we are saying a bilateral deficit is evidence of cheating. But we run surpluses with many countries. And we are still putting a 10% tariff on them! By the theory they’ve outlined, we should have negative tariffs on these countries.

leobebb.bsky.social•3 days ago

I copied your comment to post on Yahoo, where the MAGA disinfo runs strong.

yankeewitch.bsky.social•3 days ago

Not to mention that a lot of the money flowing out for purchase of goods comes right back in the form of foreign investment in the US.

No one in the White House has heard of the concept of the current account balance. Investment into the US will crater because foreigners have fewer dollars.

mmorgenschoen.bsky.social•2 days ago

and because it’s stupid to invest into a madhouse

yankeewitch.bsky.social•2 days ago

also.

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