RE: Yay. Trickle down does work. At least on tariffs. Even Kudlow admits that American consumers will be affected. Trump says "some people just don't get it". Sadly, he is the "some people" in this case.
Posted By: Charlie
Date: Monday 13 May 2019, at 12:32 pm
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I don’t agree with everything Trump is doing with China. However, pushing back on China is unbelievably overdue. Trump is attempting to make things right much more than republicans and democrats before him. China has an advantage; day by day they simply do what is in their immediate best interest, say very little, completely ignore any negative impact on a china sector when operating, and have zero intention to follow thru for more than a day with what they promise. They pick and choose what they want to accept from us and count on our political divide to help them.
I don’t care about a trade deficit. I have a 100% deficit with Smith’s grocery store yet it is in both our interest. The free market goes up and down, we need to let the political impact of the market do so as well. We need some smart people in government that follows China’s lead in trade. If they pick off some items to restrict, we do so as well. If they allow mostly free trade, we do so as well. They have much lower labor costs so in many cases, it makes sense for us to import. We should expect a trade deficit. Everyone agrees we need better trade with China; we just need to let the party in office take a lead because if it becomes partisan we lose big. We don’t need to buy our own IP back from China.
At any time we tire of fighting to be treated fairly, we can simply just ask China how they want this all to work. Variations of that have been tried. Right now China is in a very good position with much greater ability to resist change to the status quo.
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