Trump Tax Cuts

B00Mer

Make Canada Great Again
Sep 6, 2008
47,127
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Rent Free in Your Head
www.canadianforums.ca
How does anyone believe that Trump is looking out for the average man? He only cares about his family and billionaires.


 

Cliffy

Standing Member
Nov 19, 2008
44,850
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Nakusp, BC
Fed study finds Trump tariffs backfired

2018 tariffs meant job losses, higher prices for U.S. manufacturing sector

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.
Tit-for-tat trade retaliation is an idea best relegated to the past, given the presence of globally interconnected supply chains, the Fed researchers found.


More: https://www.marketwatch.com/story/fed-study-finds-trump-tariffs-backfired-2019-12-27
 

Walter

Hall of Fame Member
Jan 28, 2007
34,888
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Fed study finds Trump tariffs backfired
2018 tariffs meant job losses, higher prices for U.S. manufacturing sector
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.
Tit-for-tat trade retaliation is an idea best relegated to the past, given the presence of globally interconnected supply chains, the Fed researchers found.
More: https://www.marketwatch.com/story/fed-study-finds-trump-tariffs-backfired-2019-12-27
Drivel. The employment , inflation and manufacturing stats puts the lie to this article.