Why do all these rich white men think that other countries owe the U.S. something? The other countries gave precedence to their own industries and products? So fucking what, it is what they are supposed to do?
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The actual tariffs already were reciprocal with most countries. The trade deficits existed because the US has more money than other countries, so it was inevitable that there would be trade imbalances. Now the US is trying to level the field by making itself poor.
Barely passed Econ1 but I don’t understand: if Nation X sells the only ‘shamrocks’ and US loves them you have a deficit bc in turn Nation x is too poor to buy our manufactured shit, so how does tariffing their shamrocks help either of us? Too high & they don’t trade and we don’t buy! Explain please?
I am trained as a biological anthropologist, so economics is not my thing either. It is definitely not Trump's thing who supposedly went to Wharton School of Business. He never wants to be wrong, admit he was wrong, or change his mind and he will burn us all down with his spoiled brat tantrums.
Yes I have heard Lutnick report this without telling me how Nation X can afford to move ☘️ raw materials, native makers until US workers get trained, equipment to grow ☘️ here….etc etc. Shamrocks, sweaters or Subarus I just don’t get it. And we are service workers, sorry, no one wants assembly work!
Now, explain that to the asshole president. You can also tell him not to use a made up bullshit "formula" that was laughable, not to forget about all the service trade we do, not to place tariffs on islands with penguins, and he can just be goddamn poor with the rest of us.
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They want a closed trade ecosystem, exporting but not importing.
In practice, it doesn't work. It never has. But for some reason, we keep trying.