Congress allowed everything that happened to working Americans !
Trump stopped the hemorrhaging and with tariffs reversed the loss of jobs and moved manufacturing back to America !
That’s funny, as the middle class is shrinking, unpaid for tax cuts benefiting mostly the wealthy, and a ballooning national debt and trade deficits…
Here Is How China Is Really ‘Paying’ For Tariffs
President Trump says China tariffs have given the U.S. government billions of dollars in new revenue. He’s half right. Of course, higher tariffs on Chinese imports are a new revenue stream for the government. But China is not paying for it, U.S. companies are. Everyone knows that. American consumers might be next to pay the price, as Walmart executive said recently.
But in a roundabout way, China is “paying” for tariffs. They are not paying the port duties, but they are paying the price in this trade war in more ways than one. Barclays Capital expects a one percentage point drop in China’s GDP if Trump makes good on his promise to tax everything China sells to the U.S. at a rate of 25%. That takes China’s GDP below 6%, its lowest GDP since opening up its economy 40 years ago.
Some China manufacturers are lowering prices to help their American clients pay for their orders now that the cost of doing business with them has gone up. Others are moving lower-skilled, labor-intensive manufacturing to Vietnam, Bangladesh, Malaysia, and India. That’s a cost of blue-collar labor for China, a country that wants to move up the value chain and make microchips and develop code for video games. Odds that the stitch-and-sew factory worker can do that are slim.
The other way China is paying for the trade war is (possibly) losing its role as the go-to nation in the global supply chain. Talk to an American company sourcing parts in China and you will hear the same thing: it’s hard to get that kind of economy of scale and pricing elsewhere so quickly…but I’m looking for it! They are incredibly frustrated and looking for options. Moving out of China is one of them.https://www.forbes.com/sites/kenrapoza/2019/05/17/here-is-how-china-is-really-paying-for-tariffs/#10bf82df1fae
And America is open for business at last ! Thanks to Trump !!
2 Likes
In 38 states, a larger share of households were “middle class” in 2016 than in 2013, according to a new Stateline analysis. This group, which is defined as earning between two-thirds and twice the state’s size-adjusted median household income, had contracted in every state except Wyoming between 2000 and 2013.
However, there’s still a lot of catching up to do: In 2016, there were 30 states where at least half of households were middle class, up from 28 in 2013. But that’s still down from 43 states in 2000.
A booming economy and a tight labor market may have raised wages for those on the bottom rung of the economic ladder, Madland said, but middle-class wages have not gotten a significant boost.
Most states did see an expanding middle class between 2013 and 2016, though in all but three — Montana, Connecticut and Georgia — the increase was smaller than 2 percentage points. In Montana, the share of middle-class households grew by nearly 3 percentage points, from 51% in 2013 to 54% in 2016. In 2000, 55% of Montana households were middle class.
1 Like
They will no longer buy U.S. agricultural products. We do need their products because they keep our prices down and without competition, our manufacturing will raise prices and the working middle class will suffer.
Our farmers will go belly-up and prices will skyrocket.
1 Like
America doesn’t need any cheap junk made in Communist China .
We are the biggest consumer based economy in the world anything we need we can make in America !
2 Likes
Of course we are and of course you can! The question is the cost to the consumer of what we make in America when the competition is gone.
America is capable of manufacturing anything we need as a nation ! We have in the past and if there is any justice for the working class we will again !
If America does not manufacture and sell goods, then money only leaves the country. The U.S. now imports twice as much as it exports. This has resulted in a trade deficit that has ballooned to an unprecedented $800 billion on an annualized basis.
For over a half century, American manufacturing has dominated the globe. It turned the tide in World War ii and hastened the defeat of Nazi Germany; it subsequently helped rebuild Europe and Japan; it enabled the United States to outlast the Soviet empire in the Cold War. At the same time, it met all the material needs of the American people.
During this period, many American icons were born. Companies like General Motors, Ford, Boeing, Maytag and Levi Strauss became household names. American manufacturing became synonymous with quality and ingenuity.
On the back of this industrial output rose America’s middle class. High-paying manufacturing jobs, in turn, helped spur a robust and growing economy that depended little on foreign nations for manufactured goods and armaments.
However, manufacturing as a share of the economy has been plummeting. In 1965, manufacturing accounted for 53 percent of the economy. By 1988 it only accounted for 39 percent, and in 2004, it accounted for just 9 percent.
However, the auto industry is just one example of the overall decline in American industrial might over the past couple of decades. Other U.S. manufacturing giants are failing, too; in fact, the U.S. has lost 3 million manufacturing jobs just since 1998. In 2003, industrial giant Bethlehem Steel folded, causing thousands of employees and retirees to lose their pensions. Any Pittsburgh resident would be able to tell you how unprofitable the steel industry has been over the last 20 or so years. Between 1950 and 2000, the U.S. lost more than 491,000 jobs from the primary metals industry alone—most of those after 1980; from 2000 to 2003, an additional 149,000 of these jobs vaporized. In 2004, Levi Strauss closed the last of its more than 60 American factories. “It was like a death in the family,” said Emma Rice, of Morrilton, Arkansas, who worked for Levi Strauss for 32 years ( Times, London, Jan. 10, 2004). Unfortunately, the former Levi-employed majority of Morrilton tell the same tale as those from thousands of towns across America that have also experienced the loss of manufacturing jobs.https://www.thetrumpet.com/2061-the-death-of-american-manufacturing
1 Like
Well sure, we were making most of what we need before the corporations discovered bigger profits moving manufacturing over seas.
Of course that’s all true but doesn’t speak to the point bobrob made that you’re responding to.
And President Trump instituted American tariffs on trade cheaters .
Yep, he thinks trade wars are good and easily won. But this is FAR from over.
The point is America doesn’t need cheap shit made to break and that cannot be repaired from Communist China .
Make it here pay taxes here keep the money here a win win win for America .
That’s not what’s disputed. Why do we need to engage an economic war that risks hot war with China to make that happen.
You mean like soybeans? Lots of hysteria over soybeans.
Except when the rubber hits the road, turns out they stopped buying soybeans before the tariffs. Want to take a guess at the reason?
And there is nothing we cannot produce or purchase elsewhere.
The sooner we realize that we should always be independent first but also trade globally as a back up the better position we will be in to not be caught with our proverbial pants down.
Why is the cost of producing in America so high? Why not clear the hurdles and make America more competitive than buying from China.
Or is the child labor, pollution okay with you as long as it is China and you can buy cheap stuff?
We can do both you know. We can regulate within reason to control pollution, lower taxes so American companies can actually turn a profit. Would that be acceptable to you? Employing Americans?
Corporations were forced to manufacture outside of the United States due to excessive taxation, overregulation, unions and employment laws IF they wanted to stay in business.
As usual, the liberals ruined jobs with unrealistic demands. Just like now. Everyone “deserves” $15.00 per hour. That is crap. That drives business to overseas or automation to circumvent what will drive them out of being competitive.
But hey. Good news. Now you have a bunch of unemployed people voting democrat hoping for some government sponsored scraps.
Watch, the rights going to have to become pro regulation for this to work, unless we want to return to the polluted air and water of the 60’s. So unless these corporations import even more illegal labor from Mexico, how will they pay living wages to Americans and keep their products affordable.
That is the LAST thing the democrats want. Self sufficient and employed Americans.
1 Like