Economy
Related: About this forumTrump tariffs will cost American jobs
Combine simplistic political promises with complex international economics and all you get are unintended consequences.
President Donald Trump imposed tariffs Tuesday on foreign-made washing machines and solar panels, raising prices on those goods by 30 percent, helping two foreign-owned companies and taking away jobs from thousands of Americans.
The president fired the first salvo in his long-promised global trade war, but as in any battle, the costs will likely outweigh the benefits.
Trump's order imposed a 20 percent tariff on the first 1.2 million residential washing machines imported annually, and a 50 percent tariff on any imported after that. More distressing, he levied a 50 percent tariff on washer parts.
Whirlpool, which filed the complaint with the International Trade Commission, said it would hire 200 workers to boost domestic manufacturing. The move, though, will likely cost more American jobs.
Much more: http://www.houstonchronicle.com/business/columnists/tomlinson/article/Trump-takes-first-hard-line-on-trade-more-to-come-12518418.php
Solar developers and environmentalists have grown increasingly worried as President Donald Trump reviews a series of trade and energy policies.
Hoyt
(54,770 posts)tariffs and the end to trade agreements. Maybe that accounts for some of trump's support from folks who normally would have voted Democratic in the last election.
We are going to dig a hole we can't get out of.
https://www.usatoday.com/story/opinion/2017/10/30/what-donald-trump-and-bernie-sanders-dont-get-free-trade-real-populism-richard-hurowitz-column/802520001/
Rhiannon12866
(205,320 posts)This is not my strong suit, but I've been reading about it and trying to get a handle on it.
question everything
(47,479 posts)Globalization is here to stay and going against it, like trying to bring coal back is futile, really. We'd better work with it instead of trying to stop it.