3,304
 

Sep 11 - Trump’s trade war has killed 300,000 jobs


 
1
most viewed right now
  119
95 comments @hiphop
3
most viewed right now
  74
36 comments @hiphop


section  x1   |  0 bx goons and 1 bystanders Share this on Twitter       Share this on Facebook
 

section news
  
 2 weeks ago '05        #1
258 page views
26 comments


phantomnation  3505 heat pts3505
space
avatar space
space
$12,401 | Props total: 58347 58347
Sep 11 - Trump’s trade war has k*lled 300,000 jobs
 

 


President Trump says he is “winning big time, against China.” But his trade war is causing measurable damage to the U.S. economy, with the pain likely to worsen.

Forecasting firm Moody’s Analytics estimates that Trump’s trade war with China has already reduced U.S. employment by 300,000 jobs, compared with likely employment levels absent the trade war. That’s a combination of jobs eliminated by firms struggling with tariffs and other elements of the trade war, and jobs that would have been created but haven’t because of reduced economic activity.

The firm’s chief economist, Mark Zandi, told Yahoo Finance that the job toll from the trade war will hit about 450,000 by the end of the year, if there’s no change in policy. By the end of 2020, the trade war will have k*lled 900,000 jobs, on its current course. The hardest-hit sectors are manufacturing, warehousing, distribution and retail.

Other data back up the Moody’s Analytics numbers. Employers have created 1.3 million jobs so far this year, down from 1.9 million during the same period in 2018. The manufacturing sector has actually contracted, with many producers struggling with higher prices caused by Trump’s tariffs. Business investment is growing by the smallest amount since late 2016.


Beginning last year, Trump has hiked tariffs on about half of all imports from China. The average tariff on Chinese imports has risen from 3.1% before Trump got tariff-happy, to 21.2% now, according to Chad Bown of the Petersen Institute for International Economics. Those are taxes paid by American importers, who do their best to pass the added cost on to their own customers. Sometimes they can’t, and have to absorb the tariffs as a higher cost that lowers profits. And sometimes they can force their Chinese vendors to lower prices, to help offset the higher cost of the tariffs.

On Sept. 1, Trump imposed a 15% tariff for the first time on finished consumer goods imported from China, including clothing, shoes, appliances and food. A similar tariff is due to go into effect Dec. 15 on a deeper set of consumer goods, including electronics and smartphones. At that point, the average tariff would have risen to 24.3% and Trump would have hiked taxes on virtually everything imported from China.

An ‘escalation’ scenario

China has done the same to American exports, and simply refused to buy some American products, such as agricultural goods. Negotiators will restart trade talks soon, but many analysts are skeptical of a deal between two egocentric presidents insistent on saving face. “We remain skeptical that [Chinese President] Xi will be willing to accept any deal, even one that is limited in scope, with Trump going forward,” Beacon Policy Advisors told clients recently.


U.S. President Donald Trump holds a campaign rally in Fayetteville, North Carolina, U.S., September 9, 2019. REUTERS/Kevin Lamarque
More
Trump is in denial, if his public comments are any indication. He says repeatedly, and falsely, that China is paying the tariffs, rather than Americans. He says the economy is doing great even though it’s clearly slowing down. Growth is only around 1.6% at the moment, and it could slow to 1% or worse by the end of the year.

Nobody knows where the trade war is headed. Moody’s Analytics examined an “escalation” scenario with even higher tariffs and other trade hostilities between China and the United States. The Federal Reserve tries to intervene by rapidly cutting interest rates to zero, but there’s still a deep recession in the U.S. and Europe. In a de-escalation scenario, Trump makes a deal with China by the end of 2019 and gradually removes the existing tariffs. The economy stabilizes and stocks rally.

Many investors a*sume Trump has no choice but to hammer out a trade deal with China, because his reelection depends on it. But many of those same investors thought there’d be a trade deal by now, and never foresaw Trump going as far as taxing consumer imports. The key factor may be whether Trump believes his own fictitious spin, or can actually see the harm his trade war is causing.
+8   



best
worst
26 comments
 

 2 weeks ago '04        #2
erickonasis  26 heat pts26
space
avatar space
space
$33,326 | Props total: 37869 37869

+6   

 2 weeks ago '18        #3
LuxuriousGreen  4 heat pts4
space
avatar space
space
$1,168 | Props total: 3181 3181
“The hardest-hit sectors are manufacturing, warehousing, distribution and retail.”

All the areas where they want automation so......
+7   

 2 weeks ago '17        #4
Ymmot  24 heat pts24
space
space
space
$13,906 | Props total: 33373 33373
 LuxuriousGreen said
“The hardest-hit sectors are manufacturing, warehousing, distribution and retail.”

All the areas where they want automation so......
All the areas trump so stupidly promised growth. Many more jobs will be lost because of this trade war too.
+6   

 2 weeks ago '17        #5
Naga Sadow  63 heat pts63
space
avatar space
space
$14,948 | Props total: 64369 64369




+1   

 2 weeks ago '17        #6
Naga Sadow  63 heat pts63
space
avatar space
space
$14,948 | Props total: 64369 64369
 LuxuriousGreen said
“The hardest-hit sectors are manufacturing, warehousing, distribution and retail.”

All the areas where they want automation so......
Well my company has been extremely busy. Then again we're an automation company and we've been selling tons of automated forklifts.

+1   

 2 weeks ago '19        #7
thebestoftimes  3 heat pts3
space
space
space
$473 | Props total: 468 468
jobs have been destroyed long before trump came into office, ever since that goddamn nafta have been pushed down our throats and the TPP would have been even worse if trump hadn't stop it.
-5   

Top 10 most propped recently  2 weeks ago '09        #8
messy marv stan  topics gone triple plat - Number 1 spot x1
space
avatar space
space
$75,801 | Props total: 134758 134758
 Ymmot said
All the areas trump so stupidly promised growth. Many more jobs will be lost because of this trade war too.

his trade war scheme has cost the economy trillions in direct and indirect economic output smh. didnt the angry toupee claim china devaluing its money mean it pays for the taxes. yet he doesnt apply the extortion fees to his products made in china
+3   

 2 weeks ago '17        #9
Ymmot  24 heat pts24
space
space
space
$13,906 | Props total: 33373 33373
 thebestoftimes said
jobs have been destroyed long before trump came into office, ever since that goddamn nafta have been pushed down our throats and the TPP would have been even worse if trump hadn't stop it.
If trump had negotiated a better deal with the tpp we wouldn't be in this trade war. And if nafta is so bad, why is trump just trying to update it rather than replace it?
+3   

 2 weeks ago '12        #10
OldBusiness  187 heat pts187
space
avatar space
space
$32,516 | Props total: 65343 65343
 Ymmot said
If trump had negotiated a better deal with the tpp we wouldn't be in this trade war. And if nafta is so bad, why is trump just trying to update it rather than replace it?
Thats deeznuts aka tupacnasfan
+1   

 2 weeks ago '17        #11
Ymmot  24 heat pts24
space
space
space
$13,906 | Props total: 33373 33373
 OldBusiness said
Thats deeznuts aka tupacnasfan
I know it's tupacnasfan, I highly doubt it's deeznutz1981

 2 weeks ago '15        #12
PineappleOG  53 heat pts53
space
avatar space
space
$10,809 | Props total: 24559 24559
 Ymmot said
I know it's tupacnasfan, I highly doubt it's deeznutz1981
?? They are and have been the same person

 2 weeks ago '12        #13
OldBusiness  187 heat pts187
space
avatar space
space
$32,516 | Props total: 65343 65343
 Ymmot said
I know it's tupacnasfan, I highly doubt it's deeznutz1981
Yeah theyre the same person lol.

 1 week ago '16        #14
North Face  42 heat pts42
space
space
space
$13,686 | Props total: 25940 25940
Everything possible to win a damn election lol.

The people arent falling for it punk
-1   

 1 week ago '05        #15
phantomnation  3505 heat pts3505 OP
space
avatar space
space
$12,401 | Props total: 58347 58347


 1 week ago '16        #16
OWPE  111 heat pts111
space
avatar space
space
$6,802 | Props total: 17594 17594
Its amazing how every day people claim this and that is happening because of the trade war, yet I don't see any issues in my day to day life. I'm paying the same amount or sometimes less for things like gas, or food, or even products I need. I don't feel affected by this trade war at all



-3   

 1 week ago '17        #17
ddy807  24 heat pts24
space
avatar space
space
$3,617 | Props total: 10148 10148
 PineappleOG said
?? They are and have been the same person
they typed differently before and after they were banned.

look at @' page.

tupacnasstan types like he talks.

 1 week ago '17        #18
Naga Sadow  63 heat pts63
space
avatar space
space
$14,948 | Props total: 64369 64369
 OWPE said
Its amazing how every day people claim this and that is happening because of the trade war, yet I don't see any issues in my day to day life. I'm paying the same amount or sometimes less for things like gas, or food, or even products I need. I don't feel affected by this trade war at all



"I'm eating well so world hunger doesn't exist."

+4   

Top 10 most propped recently  1 week ago '09        #19
messy marv stan  topics gone triple plat - Number 1 spot x1
space
avatar space
space
$75,801 | Props total: 134758 134758
 Naga Sadow said
"I'm eating well so world hunger doesn't exist."


the job losses will speed up even more as trumps hijacking of the economy continues smh


he would never start the trade wars if the toupees adhesive could not profit
+1   

 1 week ago '05        #20
autoraptronix  15 heat pts15
space
avatar space
space
$5,839 | Props total: 2082 2082
 Ymmot said
All the areas trump so stupidly promised growth. Many more jobs will be lost because of this trade war too.
So you were expecting job growth...from manufacturing plants and distribution centers in China? How does that work?

-1   

 1 week ago '17        #21
Ymmot  24 heat pts24
space
space
space
$13,906 | Props total: 33373 33373
 PineappleOG said
?? They are and have been the same person
 OldBusiness said
Yeah theyre the same person lol.
Tupacnasfan is retarded to the point he can't hide it. When he types it looks like he's drooling all over his keyboard. Deeznutz1981 says some extremely stupid things and spams the board with propaganda, but he doesn't seem like he's mentally handicapped.
+1   

 1 week ago '17        #22
Ymmot  24 heat pts24
space
space
space
$13,906 | Props total: 33373 33373
 OWPE said
Its amazing how every day people claim this and that is happening because of the trade war, yet I don't see any issues in my day to day life. I'm paying the same amount or sometimes less for things like gas, or food, or even products I need. I don't feel affected by this trade war at all



You should go to the midwest and preach that to all the trump supporting farmers feeling the effects of the trade war. Or go to all the mining towns and and factory towns and tell all the trump supporters to stop bi*ching about the trade war because you're personally ok.

 1 week ago '17        #23
Ymmot  24 heat pts24
space
space
space
$13,906 | Props total: 33373 33373
 autoraptronix said
So you were expecting job growth...from manufacturing plants and distribution centers in China? How does that work?

China? Trump promised manufacturing jobs and job growth in America. We're seeing the opposite. I know some of it is due to automation, but it was trump's biggest promise.

 1 week ago '12        #24
OldBusiness  187 heat pts187
space
avatar space
space
$32,516 | Props total: 65343 65343
 Ymmot said
Tupacnasfan is retarded to the point he can't hide it. When he types it looks like he's drooling all over his keyboard. Deeznutz1981 says some extremely stupid things and spams the board with propaganda, but he doesn't seem like he's mentally handicapped.
Fam we have his facebook, twitter, instagram, personal address, phone number, school/occupation information, and youtube account and have for some time.

Its the same n*gga.
+1   

 1 week ago '05        #25
autoraptronix  15 heat pts15
space
avatar space
space
$5,839 | Props total: 2082 2082
 OWPE said
Its amazing how every day people claim this and that is happening because of the trade war, yet I don't see any issues in my day to day life. I'm paying the same amount or sometimes less for things like gas, or food, or even products I need. I don't feel affected by this trade war at all




That's because a lot of production is or will be moving to other Asian countries like Vietnam or Singapore. The products you did once buy from China now comes from other countries without tariffs.

The biggest losers are the globalists who invested in Chinese manufacturing and distribution whose investments are now marooned in China. That's alot of billionaires and probably the real reason why some Dems don't support the trade war.



Sign me up
 
 

yesterday...


most viewed right now
+20online now  31
Article inside Spending $60 on a video game doesn’t make sense anymore
62 comments
1 day ago
@games
most viewed right now
+16online now  19
Sep 20 - 13-month-old boy killed by family dog in Granite Bay TAKE A WILD GUES..
155 comments
1 day ago
@news
most viewed right now
+37online now  19
The Sega Genesis Mini is amazing...
89 comments
23 hours ago
@games
most viewed right now
+31online now  9
Video inside Cut down in it's prime, this sh-t is a laugh riot. I love it and swear ..
23 comments
1 day ago
@movies
back to top
register Follow BX @ Twitter search BX privacy