Trump falsely claims China is paying for his tariffs which is similar to Mexico paying for the wall. Tariffs are taxes on goods paid by American importers. According to National bureau of economic research, 100% of the cost of tariffs are passed to US consumers and businesses. According to Princeton university, Americans are paying over $800 annually per household. According to US chamber of commerce, Trump tariffs cost $billions in lower GDP growth and thousands of job losses. Trump's claim that China's currency devaluation pays for tariffs doesn't hold water. A small devaluation doesn't make any difference. No evidence chinese exporters are reducing prices to accomodate tariffs. Economists reject Trump's argument that trade deficits arise from other countries taking advantage of the US. Actually, Americans buy more than they produce and imports fill the gap. Since US dollar is the world's currency, US can borrow money cheap and take advantage of other countries.
Buy American. It costs more. Sadly, the wealth disparity makes this difficult but we should all make the effort to buy American when ever available and economically feasible. I don't adhere to the do nothing approach. I'm from a port city. I grew up walking distance from one of the busiest ports in the country. And even at a young age I had a joke. I'd say to someone, "You ever notice that more container ships come in than go out?" The person would say yes. Neither of us knew if this was even true but it was always the set-up. So they'd say yes and i'd say, "The ships that come in are full of cheap chinese goods and in return those that go out are full of our money shipping off to China." I've been saying this since grade school. I was a very forward thinking child. So while I realize the flaw in implementing tariffs, while I realize how they negatively effect our economy and are nonsensical in a global economy, I can't subscribe to, "That's just how it is and there's no changing it. We'll always be importers. We'll always be consumers rather than producers. And we'll always pump money into China's economy, then turn around and borrow it back from them.
I know all you old fuhks have seen "The Godfather". Do you know what I feel like when I here Americans say, "...but China .....but in a global economy, ...but ...but ...but"? I feel like Michael Corleone listening to his brother, Fredo, say, "You don't come to Las Vegas and talk to a man like Mo Green like THAT!" All while Mo Green is punking him. Making him look like a sucker. You know what? F*ck Mo Green. Maybe it's cutting your own nose off to spite your face but sometimes you just gotta say, F*ck Mo Green. And frankly, F*ck China.
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