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These Trade Claims Made by Trump? They're All Wrong;Veronique de Rugy;senior research fellow at the Mercatus Center at G

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Mr. Trump said that he would wipe away the trade deficit. Aside from the fact that this is a foolish goal, his trade disputes have achieved quite the opposite. A reduction in the bilateral trade deficit is a meaningless measure of success because when one deficit goes down, many others go up; (i.e. the deficit with China is going down, but it is offset by rising bilateral deficits elsewhere, including with Vietnam and Mexico. Imports from China are also down 12 percent, but exports to China are down 19 percent' hurting framers and maufacturers. He & 'his  unrepentant protectionists have made wild claims about what big tariff hikes and aggressive negotiating tactics will achieve. Let’s pick the top five claims. Have any actually panned out? The answer will not come as a surprise. (It’s no.)'

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I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

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Susan Lee Schwartz

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"If there is a silver lining to the recent trade insanity, it's the bright light that it shines on the victims of President Trump's tariffs. These victims include construction companies, equipment manufacturers and the many American producers whose costs are increasing. Workers in these industries as well as ordinary American consumers pay higher prices for automobiles, washers and dryers, and the other goods whose prices are artificially hiked by the tariffs.

Because of the president's hyperactive use of his trade authority, the scale of this pain is unusually high. But the reality is that this disregard for the consequences inflicted on buyers in the industries downstream from tariffs is nothing new. In fact, thanks to the handiwork of interest groups who benefit from the tariffs and the politicians who serve them, it's embedded in our trade system, sometimes even in the legislation itself."

Submitted on Tuesday, Oct 8, 2019 at 4:37:39 PM

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Susan Lee Schwartz

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While it has the data, the Department of Commerce is not required by law to consider the impact on the industries in the cross hairs of a tariff in its recommendation to impose the penalty even though the impact can be brutal.

Consider how easy it was for Mr. Trump to get a 25 percent tariff on steel imports. His administration simply concocted a fanciful national-security narrative about why the steel industry needed protection from foreign steel imports this despite the industry's enjoying a 70 percent share of the United States steel market and despite the Department of Defense finding no national-security harm from global steel imports.

Why is such a half-baked justification so easy to spin? In large part, it has to do with the Commerce Department, which is responsible for measuring a given tariff's impact. A department report on a tariff measures the direct impact on an industry say, steel manufacturers as well as steel-consuming industries and the economy more broadly. Click here:

Submitted on Tuesday, Oct 8, 2019 at 4:39:13 PM

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