General Discussion

Demovictory9

(32,443 posts) Sat Jul 21, 2018, 06:10 AM Jul 2018

the economic fallout of the president's tariffs could peak around election time

https://www.politico.com/story/2018/07/20/trump-trade-war-tariffs-midterms-2018-701466

Trump's new midterm threat: A trade war smacking voters
Market analysts, industry experts and economists warn the economic fallout of the president’s tariffs could peak around election time.

President Donald Trump’s trade wars could become a major political drag for Republicans, with job losses and price increases piling up just as voters head to the polls in November.

Trump jolted markets once again early Friday when he said he’s prepared to impose penalties on some $500 billion in Chinese goods regardless of the consequences that might ensue, economic or political. “Look, I’m not doing this for politics,” the president said on CNBC. “I’m doing this to do the right thing for our country.”

But market analysts, industry experts and economists warn that the economic fallout of the president’s tariffs — those that are already in effect and those he’s threatening to impose — is only going to intensify over the coming months and could reach a peak around election time.

“We’re already hearing complaints now from companies, so by the time we get to the midterms, you’re going to be hearing governors, mayors, Congress complaining about jobs, about cost increases, about problems,” Carlos Gutierrez, the former Commerce secretary under President George W. Bush, told POLITICO. “The question is: Will that be strong enough to offset the idea that we have to get tough on our trading partners, and that our jobs are being stolen overseas?”

https://www.politico.com/story/2018/07/20/trump-trade-war-tariffs-midterms-2018-701466