It would be awesome if Canada, Mexico, the EU, UK and others collectively pushed back against Trump's tariff threats and somewhat isolated the US. Would love to see the lunatic's plans backfire on him. - ThreadSky

nickhedley.bsky.social • 69 days ago

It would be awesome if Canada, Mexico, the EU, UK and others collectively pushed back against Trump's tariff threats and somewhat isolated the US.

Would love to see the lunatic's plans backfire on him.

Comments

damebernie.bsky.social•68 days ago

Which is exactly what they should do.

jovicu.bsky.social•69 days ago

I think they've already done plenty to date to isolate themselves...

rcdavies.bsky.social•68 days ago

The US runs an enormous trade deficit. They have been extraordinarily generous to their trade partners in a way that is not reciprocated. Trump, like Biden, is right to demand a rebalancing.

The UK is unlikely to join such an action given it is in nearly as bad a situation.

nickhedley.bsky.social•68 days ago

Trade is not generosity. It's commercial. You make something better and cheaper than we do so we'll buy it. Simple as that.

rcdavies.bsky.social•68 days ago

That is how it has been sold for 40 years. But when some countries have very open markets and others strictly control theirs and run industrial policies you end up with massive imbalances.

Seriously, why do you imagine that China and Germany have huge surpluses & the US and, say, France deficits?

rcdavies.bsky.social•68 days ago

Are 1bn+ Chinese really that much more capable than 1bn+ Indians?

Are the Germans that much more sophisticated than their neighbours & cultural cousins in GB and France?

The US, UK, France did not suddenly get bad at making things.

rcdavies.bsky.social•68 days ago

What you see are the consequences of broad policy, not individual purchasing decisions.

Biden and Trump are effectively running the policies (and tariffs) that surplus nations have run for decades.

nickhedley.bsky.social•68 days ago

I'm sorry but this is such an irrelevant argument. Running a trade surplus means absolutely nothing, it's just a number. The US is an advanced services economy that sells services globally. It imports cheap goods from countries with cheaper labour and energy etc. There's nothing wrong with that.