Thursday, March 7, 2019

Too much winning!

Trump rants about the terrible, awful trade deficit with China at every rally speech, only he lies that it's $500 billion. He never mentions that he's the one increasing it. Instead, he talks about how he's fixing it.
The U.S. trade deficit in goods with China set a new record during President Donald Trump’s second year in office, despite his efforts to rein in what the administration views as Beijing's trade transgressions. The trade gap rose to $419.2 billion in 2018, from the previous record of $375.5 billion in 2017, a Commerce Department report released Wednesday showed.

[...]

[Trump's tariffs] are aimed in part at reducing the U.S. trade gap with Beijing, but imports from China actually increased during the last months of 2018, as companies sought to get ahead of Trump’s initial plan to raise his 10 percent duty on $200 billion worth of Chinese goods to 25 percent on Jan. 1. The other $50 billion in Chinese goods already faces a 25 percent tariff.

[...]

Trump delayed the planned tariff increase to March 2 and recently postponed it indefinitely, saying that talks with China had made substantial progress towards a deal. That could result in China buying more U.S. soybeans, liquefied natural gas and manufactured goods like Boeing airplanes. But any reduction in the U.S. trade gap with China could be offset by higher deficits with other countries, as U.S. exports are diverted away from other markets.

[...]

The U.S. trade deficit tends to rise when the economy grows because American businesses and consumers increase purchases of all goods, including imports.

  Politico
Then why doesn't Trump go with that instead of squealing about a deficit? Because he's brilliant. I just haven't figured out how that's brilliant.

...but hey, do what you want...you will anyway.

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