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Donald Trump's Misguided Trade Wars

By ohomen171 following x   2018 Jun 10, 6:46am 391 views   6 comments   watch   sfw   quote     share    


#tradewarsI have over 35 years experience in international trade. Here are some things I know well as follows:



1) I lived for 5 years in Brasil. When it comes to international trade, they have a Brasil first policy that Donald Trump would love. Massive import duties are imposed on virtually everything that must be imported to Brasil. The result is very high prices for any sort of consumer electronics, cars, clothes, shoes; the list can go on for pages. More affluent Brasilians leave with empty suitcases and buy most of what they need in other countries. The poor suffer and often cannot even afford the necessities of life.



2) I live relatively near the port of Oakland. Huge container ships full of goods dock at the port. They off load massive amount of goods made primarily in China but also in other Asian countries. The containers containing all of these goods sit empty at the Port of Oakland. The US runs a huge trade deficit with the rest of the world.



3) Germany has just the opposite experience. Massive cargo container ships come from Asian countries to German ports like Hamburg. The Asian goods are off loaded. The containers are filled with very high-quality manufactured goods from Germany that go back to Asia. Germany has a huge trade surplus and the largest foreign exchange reserves in the world. Does Germany have "a Germany First" trade policy putting massive import duties on products that come from other countries. No, they just do a better job of being competitive.



4) Donald Trump reads trade statistics that show these trade imbalances and concludes that it is unfair to the USA. These trade statistics do not show the whole picture of international economics. A lot of money comes back to the US from foreign countries that is not recorded in the official trade figures. I could write a book on this. If we did the statistics right, we might find that the US actually has a trade surplus with the rest of the world.



5) A cautionary tale from 1929-1932 is in order here. Most people believe that the stock market crashes of 1929 and onward caused The Great Depression. In those times long ago, only 2% of the US population was invested in the stock market. What actually caused The Great Depression was a series of trade wars with high import duties as Trump is doing now.
1   Tenpoundbass   ignore (11)   2018 Jun 10, 7:01am   ↑ like (0)   ↓ dislike (0)   quote   flag        

ohomen171 says
When it comes to international trade, they have a Brasil first policy that Donald Trump would love. Massive import duties are imposed on virtually everything that must be imported to Brasil. The result is very high prices for any sort of consumer electronics, cars, clothes, shoes; the list can go on for pages. More affluent Brasilians leave with empty suitcases and buy most of what they need in other countries.

Give it a rest we have the resources and capability to produce all of that, we used to do so. And had a healthy middle class while doing so. There's more of a precedence that says the opposite of what you are saying is actually better for this country.

ohomen171 says
4) Donald Trump reads trade statistics that show these trade imbalances and concludes that it is unfair to the USA. These trade statistics do not show the whole picture of international economics. A lot of money comes back to the US from foreign countries that is not recorded in the official trade figures. I could write a book on this. If we did the statistics right, we might find that the US actually has a trade surplus with the rest of the world.


Bilderberg money doesn't not end up in our pockets.

ohomen171 says
A cautionary tale from 1929-1932 is in order here. Most people believe that the stock market crashes of 1929 and onward caused The Great Depression. In those times long ago, only 2% of the US population was invested in the stock market. What actually caused The Great Depression was a series of trade wars with high import duties as Trump is doing now.


Investor bubbles caused the crash that caused the GD.
2   HEYYOU   ignore (17)   2018 Jun 10, 9:22am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Tenpoundbass says
Bilderberg money doesn't not end up in our pockets.


Now you've got me started.
Everything anyone wants to know about the The Builderburgers. ;-)

http://21stcenturywire.com/2018/06/09/bilderberg-2018-rear-guard-action-by-the-transatlantic-elite-in-turin-italy/
3   HEYYOU   ignore (17)   2018 Jun 10, 9:25am   ↑ like (1)   ↓ dislike (0)   quote   flag        

ohomen171 says
The containers are filled with very high-quality manufactured goods from Germany that go back to Asia.


America could export some of the world's best bullshit.
America's quality control can't be matched.
4   TwoScoopsOfSpaceForce   ignore (4)   2018 Jun 10, 9:38am   ↑ like (1)   ↓ dislike (0)   quote   flag        

ohomen171 says
3) Germany has just the opposite experience. Massive cargo container ships come from Asian countries to German ports like Hamburg. The Asian goods are off loaded. The containers are filled with very high-quality manufactured goods from Germany that go back to Asia. Germany has a huge trade surplus and the largest foreign exchange reserves in the world. Does Germany have "a Germany First" trade policy putting massive import duties on products that come from other countries. No, they just do a better job of being competitive.


Not True, Both Germany and the EU it controls have high tariffs, outsource only the very bottom low value added jobs, has strict limits for imports, and demand Chinese buy goods in exchange for allowing their goods into Germany. The Germans have Europe as a captured market and buy up to shut down any attempt at low value added manufacturing in Eastern Europe.

1 in 5 German Jobs involve manufacturing. The USA is like 1 in 8.

The Germans have NEVER embraced free trade. It's how they (and we) industrialized in the first place: High Tariff, aggressive Export.

When the UK adopted Free Trade, they lost the #1 slot within a few decades to Protectionist Germany and the USA. Don't repeat the mistakes of history.
5   CovfefeButDeadly   ignore (4)   2018 Jun 10, 9:59am   ↑ like (3)   ↓ dislike (0)   quote   flag        

How are we even here having this discussion? Wasn’t President Trump’s handling of the North Koreans supposed to trigger ww3 and nuclear Armageddon?
6   TwoScoopsOfSpaceForce   ignore (4)   2018 Jun 10, 10:07am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Canada's tariff on US Diary is 270%

That's not a typo.

Meanwhile, Canadians are importing huge amounts of car parts from China and Europe, and claiming the end product should be tariff free for NAFTA when they import into the USA.




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