Trump finalizes tariffs on Canada, Mexico, China, triggering likely trade war

The tight money policy combined with the bursting of the stock market bubble triggered the events that ultimately led to the Great Depression. It was the Smoot Hawley tariff the turned a recession into the Great Depression. Remember President Hoover signed the Smoot Hawley Tariff Act in 1930. Notice when unemployment really took off or GDP fell out of the bottom.



U.S. imports decreased 66% from $4.4 billion (1929) to $1.5 billion (1933), and exports decreased 61% from $5.4 billion to $2.1 billion. US gross national product fell from $103.1 billion in 1929 to $75.8 billion in 1931 and bottomed out at $55.6 billion in 1933.[21] Imports from Europe decreased from a 1929 high of $1.3 billion, to $390 million in 1932. U.S. exports to Europe decreased from $2.3 billion in 1929 to $784 million in 1932. Overall, world trade decreased by some 66% between 1929 and 1934.[22]

Unemployment was 8% in 1930 when the Smoot–Hawley Act was passed but the new law failed to lower it. The rate jumped to 16% in 1931 and to 25% in 1932–1933.[23] There is some contention about whether this can necessarily be attributed to the tariff.[24][25] The Great Depression was already in motion before Smoot-Hawley, mainly due to financial instability, falling demand, and poor banking practices. However, the tariff worsened the crisis by shrinking global trade, hurting farmers, and reducing employment in export-dependent industries. Had it not passed, the Depression still would have occurred, but perhaps with less severity.

 

Will we be limited to 2 of these vehicles?

 

So the "trade deal" with UK looks like a big nothing burger. 10% tariffs still in place. This doesn't bold well for us Americans on future "deals". Hello inflation etc.

I was optimistic that this would bring some good economic news, but it is clear the 80 year old grandpa is just looking to boost his ego.

Why not just come out and create a VAT.

 

Have there been $10 trillion in US investments under Trump?

 

I don't think so. I think Trump really believes that trade deficits somehow "steal" wealth from us & that creating jobs via protectionism creates wealth. He's the real deal Leftist strongman.

 

I've seen other references to that from Trump supporters.That if we have a trade deficit with another country, then that country is doing us wrong. It's bizarre.

 

Every time I go to Costco, I end up with a trade deficit of at least a couple of hundred bucks. I’m planning on putting a 420% tariff on those bastids.

 

Hit Costco today for the first time in a bit. They had a Deschutes lager that was Kirkland branded for 13.99 a 12 pack. Pretty damn tasty, will make a good summer beer.

 

non alcohol sales at costco in maryland

 

Sucks. Ours can sell beer and wine, only one Costco in ga can sell hard liquor but I wasn't impressed with selection.
Their wine selection is amazing.

 

Might be an unpopular opinion, but Costco is overrated. I find most of the Kirkland branded stuff far inferior to the name brand stuff it replaces. In most cases they stop carrying the name brand product.

In my area I find the Sam's Club to be equal or better value. For one thing, they still sale the roasted chicken in a plastic container.

 

begging in all caps late night posting. I bet Xi got a good laugh at that one

Trump posts all-caps plea to China in early morning hours

Donald Trump early Friday morning posted a request to China.

The president took to Truth Social before the weekend, writing in all caps, "CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!!"

 

Surprising no one, the US-UK deal isn't an actual deal. It's just a non-binding agreement to keep talking.

 

More like dumbass because that's not how it works. Like calling the US the biggest "store". No, dumbass, we're not the store. We're the customer. Specifically, the customer they close down the store for when he/she walks in.

 

You have to love that they were touting him as "The Closer" yesterday, and the deal isn't even close to being "Closed." Now he is busy negotiating against himself on social media.

 

Awesome. So it will be nice in soggy when you get it home?

I find Kirkland, like Publix, to be as good or superior to national brands for a better price. And cooked chicken should be packaged in brown paper (keeps it from getting soggy).