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Saturday, September 22, 2018

Casualties Of Trump’s Trade War

Reprinted with permission from Creators.

When White House economic adviser Gary Cohn showed up in the Oval Office earlier this year to give Donald Trump news of an excellent jobs report, the president’s keen grasp of economics and policy instantly came into play. “It’s all because of my tariffs,” he replied, according to Bob Woodward’s new book, “Fear.” Cohn had to inform him that the tariffs were not yet in effect.

Now they are, and the news is not so sunny. The Federal Reserve reported Wednesday that already, “Tariffs are reported to be contributing to rising input costs, mainly for manufacturers,” and worries about trade disputes have “prompted some businesses to scale back or postpone capital investment.”

Eighty percent of the world’s recreational vehicles are built in and around Elkhart County, Indiana, which voted for Trump by a 2-1 margin. When times are bad, people don’t buy RVs, because they are a luxury, not a necessity.…

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Farmers, Business Leaders Join To Condemn Trump’s Trade War

Reprinted with permission from Shareblue.

A new multi-million dollar “Tariffs Hurt the Heartland” ad campaign has just launched, targeting one of Trump’s hallmark economic policies — his disastrous trade war. The media offensive coincides with the midterm election cycle, which is already trending in Democrats’ favor.

“The campaign will focus on telling the stories of the American businesses, farmers, workers and families harmed by tariffs through town-hall style events, grassroots outreach to Congress and the administration, social media, rapid response and digital advertising,” USA Today reports.

They’ll do that by buying up TV, radio, and online ads that detail how Trump’s tariffs are harming families, farmer and factory workers.…

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America Is Losing Trump’s ‘Easy’ Trade War

Reprinted with permission from DCReport.

 

Reports are coming in from the first skirmishes in Donald Trump’s gratuitous trade war. They show our country is losing these early rounds of what China calls “the biggest trade war in economic history.”

“Trade wars are good and easy to win,” Trump declared in a March 2, 2018, tweet. So far that’s not how it’s gone.

Among the reports from the frontlines of this economic battleground is this gem — America’s trade deficit in goods has worsened significantly since the first of this year, Census Department data show: Overall 7% worse. China 9% worse.…

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