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Trump’s Measly 'Trade War' 2019: $24 Billion in Tariffs - and a $22 Trillion Economy
Schadenfreude - Trade Edition
Candidate Donald Trump promised to strategically impose strategic tariffs upon the countries that have spent the last several decades royally screwing us on trade.
As a way to force these very many countries - to stop screwing us.
President Trump - has kept his promise. So have the tariffs he’s been imposing.
Our chief global antagonist - economically and in all other ways - is Communist China. With whom we have for several decades been very stupidly cutting very stupid trade deals.
Trump’s China mini-tariff regime - augmented by a coronavirus outbreak - has Communist China’s regime in serious trouble.
Don’t let anyone fool you: Communist China’s regime collapsing - is a very good thing. And companies having to relocate their production houses to somewhere besides Communist China - preferably here - is a very good thing.
Trump’s North America mini-tariff regime - allowed US to tear up the exceedingly awful North American Free Trade Agreement (NAFTA). And replace it with the exceedingly better United States-Mexico-Canada Agreement (USMCA).
The now-Britain-free European Union (EU) - ain’t looking to lock horns with Trump and his tariffs:
“Donald Trump and European Union officials on Wednesday stepped back from a trade war as they struck a deal to work towards ‘zero’ tariffs, barriers and subsidies.”
Yes, please. And round and round we go - all round the globe.
The willfully-blind-to-reality Free Trade Freaks - have spent the last three-plus years freaking the heck out.
Accusing those of us who prefer an America First trade policy - of being “collectivists”…for preferring our nation.
Seriously: I have on numerous occasions been called by Free Trade Freaks a “collectivist” for using the first person plural pronoun “We”…when referencing the United States of America. How exceedingly unintelligent these Free Trade Freaks are.
And the Free Trade Freaks have been endlessly, incorrectly predicting the imminent collapse of our economy - because of Trump’s tariffs.
Except, of course, none of this has proven to be true.
In fact, the exact opposite has been borne out - in about nine million different directions.
Most especially so - for minorities…and the lowest of the wage earners amongst US.
Those of us who like actual free trade - but aren’t Free Trade Freaks - weren’t freaked out by Trump’s mini-tariff regimes. Because we can do math.
All along the way, Freaks told us freaked out things like this:
Of course that “100 percent” assertion - is ridiculously inaccurate. Because duh.
And what is the allegedly “staggering amount” in tariffs We the Consumers have paid?:
“Since the trade war commenced in February 2018, Americans have paid an additional $42 billion….”
Wow. $42 billion. In two years.
Except our national economy was in 2019 - $22.32 TRILLION.
So say the $42 billion in tariffs we have paid were split equally over the two years.
That means $24 billion in 2019.
Which is approximately 1/1000th of last year's Gross Domestic Product (GDP).
The tariffs paid - aren’t even a rounding error. Not even a mini-blip on the radar.
And the US economic payoff from that $42 billion in tariffs - has been the best US economy in decades.
Thanks to phenomenal economic, wage and stock growth.
And extraordinarily improved global trade.
Helped brought about - by the 1/1000th tariffs we’ve paid.
I’d call that a mind-bogglingly remarkable return on our investment.
As the numbers show - most Americans think so too.
This first appeared in Red State.