Trump's tariff policy has made us poorer

[planosteve]

President Donald Trump’s strategy to use import tariffs to protect and boost U.S. manufacturers backfired and led to job losses and higher prices, according to a Federal Reserve study released this week.
“We find that the 2018 tariffs are associated with relative reductions in manufacturing employment and relative increases in producer prices,” concluded Fed economists Aaron Flaaen and Justin Pierce, in an academic paper.
While the tariffs did reduce competition for some industries in the domestic U.S. market, this was more than offset by the effects of rising input costs and retaliatory tariffs, the study found.
“While the longer-term effects of the tariffs may differ from those that we estimate here, the results indicate that the tariffs, thus far, have not led to increased activity in the U.S. manufacturing sector,” the study said.
The top ten manufacturing industries hit by foreign retaliatory tariffs were producers of: magnetic and optical media, leather goods, aluminum sheet, iron and steel, motor vehicles, household appliances, sawmills, audio and video equipment, pesticide, and computer equipment.
https://www.marketwatch.com/story/fed-s ... 2019-12-27

[GFB]

That was a really dumb title.

It was a known and a given that the tariffs would be a drag on economic growth. That’s why they have been used now, when the economy is doing great.

We could afford a trade war..China could not.

Turning that into “making us poorer” is really dumb.

Trump is doing and succeeding at things no other President would have the guts to even try, or would ever have the opportunity to do so.

[Mark]

We are now selling rice to China.

I don't want to hear any more criticism of how PRESIDENT Trump has dealt with the China trade policy.

[planosteve]

That was a really dumb title.

It was a known and a given that the tariffs would be a drag on economic growth. That’s why they have been used now, when the economy is doing great.

We could afford a trade war..China could not.

Turning that into “making us poorer” is really dumb.

Trump is doing and succeeding at things no other President would have the guts to even try, or would ever have the opportunity to do so.

You care to mention a few things that Trump is doing and succeeding at?

[GFB]

That was a really dumb title.

It was a known and a given that the tariffs would be a drag on economic growth. That’s why they have been used now, when the economy is doing great.

We could afford a trade war..China could not.

Turning that into “making us poorer” is really dumb.

Trump is doing and succeeding at things no other President would have the guts to even try, or would ever have the opportunity to do so.

You care to mention a few things that Trump is doing and succeeding at?

I’ve done that over and over.

[Sangersteve]

President Donald J. Trump's Accomplishments List:

http://www.magapill.com/

The news media is not keen on reporting positive news about President Trump and his administration. Yet Mr. Trump’s victories continue to pile up whether the press reports them or not. What follows is a small compendium of those significant and fact-driven victories, as reported in Inside the Beltway in the final weeks of 2019. Without further ado, a few recent examples:

https://www.washingtontimes.com/news/20 ... -end-revi/

[planosteve]

President Donald J. Trump's Accomplishments List:

http://www.magapill.com/

The news media is not keen on reporting positive news about President Trump and his administration. Yet Mr. Trump’s victories continue to pile up whether the press reports them or not. What follows is a small compendium of those significant and fact-driven victories, as reported in Inside the Beltway in the final weeks of 2019. Without further ado, a few recent examples:

https://www.washingtontimes.com/news/20 ... -end-revi/

Overall, this is a Questionable source based on promotion of one sided Donald Trump propaganda, debunked conspiracy theories and some false claims.

https://mediabiasfactcheck.com/magapill/
The WT is not much better. It is a weekly broadsheet of propaganda distributed in DC and 2 adjacent states by the Moonies.