According to federal reserve, Trump's tariffs backfired. He says increasing tariffs would help protect US manufacturers. Instead his trade wars caused job losses and higher prices that cost Americans billions of dollars. Also uncertainty lead to a loss in business confidence and drop in investment. Tariffs are counterproductive because of globally interconnected supply chains and reduced competitiveness from tariff retaliations.
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
“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.
The top ten manufacturing industries hit by foreign retaliatory tariffs were producers of: magnetic and optical media, leather goods, aluminum sheet, iron and steel, motor vehicles, household appliances, sawmills, audio and video equipment, pesticide, and computer equipment.
How many times do we have to repeat this ? The tariffs are nothing more than a negotiating tool to get China to stop their cheating ways. They entered the WTO in 2001 to open their markets to foreign competitors. That hasn't happened. They engage in force technology transfers, stealing of intellectual property, and state subsidies.
I don't expect these fed "economists " to have the president's back and think through the big picture ..
Throw out your old icebox & get something we call a "refrigerator" to find out the added cost to Americans brought by these tariffs. Just a tool my ass.
How many times do we have to repeat this ? The tariffs are nothing more than a negotiating tool to get China to stop their cheating ways. They entered the WTO in 2001 to open their markets to foreign competitors. That hasn't happened. They engage in force technology transfers, stealing of intellectual property, and state subsidies.
I don't expect these fed "economists " to have the president's back and think through the big picture ..
He has no plan. We'll see what happens is not a farking plan.
You want to loosen the hold China & others have on the US? Bring back all the outsourced jobs & manufacturing. One question for you both..
What happened to Infrastructure Week???? All blow no show.
He is surrounded with nitwits & no idea is a goods idea unless it's Trump's idea. That's a big farking problem!
Treasury Sec. Mnuchin on CNBC, 12/19: "It's already on paper, and it's already translated." WH adviser Peter Navarro on FOX Business today: "All we've been waiting for on the China deal is to translate the English version of the 86-page deal into the Chinese version."
Who's on first??? These two nitwits help solidify my point above. Nobody knows what is going on. And you think we have China by the balls?
Massive contracts can be translated almost overnight. It hasn't been translated because it doesn't exist! Trump's base has been buying all this "Phase 1" bullshit.
They all farking lie & this is unacceptable to most Americans.
Just not true about O'bama 2nd term.. Here's a brief review for you.
https://www.wsj.com/articles/rank-and-file-workers-get-bigger-raises-11577442600
Also, Trump is the enemy of higher wages for workers ?? Really ?? Your comment just shows your lack of understanding of how an economy works.. Here's the formula,... lower unemployment brings up worker wages because companies must compete for a smaller supply of workers.. This is what's happening now !!! Pay attention.
Lastly, good for Trump for freezing the pay for "Federal" workers. The government is already too large, and pushing these people to the private workforce would be a good thing.. We need fewer people on the federal payroll,... not more.. 
Throw out your old icebox & get something we call a "refrigerator" to find out the added cost to Americans brought by these tariffs. Just a tool my behind.
Did I say anywhere in my post there wasn't any effect to the U.S. consumer ??? Of course there is a cost. Someone is absorbing the cost, whether it be the company selling the goods to consumers,.. or the consumer itself. This is a small price to pay now.
Simple question ? What is the option ? You either get tough with China now , or you allow China to keep getting stronger at our expense. Do you want to deal with them in an economic war now, or potentially a military one later ? Do yourself a favor, and start reading about how the Chinese seek to dominate this country, and their navy commanders openly speak about the sinking of U.S. warships in the Pacific.
Sure we agree on getting tough on China but you don't punch a person in the face & see what happens without having a plan. He has no one around him to provide solid input & even if he did Trump wouldn't listen. Like I said before, no idea is a good idea if it's not Trump's idea.
I'm done with this topic.
Baghdad embassy crisis shows failure in Trump's foreign policy. In the past, the only effective US response to Iran threat was Obama's decision to join other nations in Iran nuclear deal. Things were fine since Iran was complying. However Trump recklessly blundered by exiting nuclear deal the most significant peace achievement in the last decade. Now Trump has locked the US into an escalation spiral toward greater chaos in the middle east.
Trump has no one around him to provide solid input ??? Are you for real ?? I'm adding you to the list of people that aren't paying attention and don't know what's going on. Do some research on Robert lighthizer, and particularly Peter Navarro. Navarro is the "architect " of the tariff war..
Your decision that you're "done w this topic" only shows you've lost the debate on this topic... if not, carry on. I'll wait for your response.
Oh, and happy new year. 
Peter Navarro ..you mean the guy who says the DOW will hit 32,000 in 2020? That Peter Navarro?
The guy who convinced Trump to initiate tariffs around the world?
The guy who made up an economics genius Ron Vara who gives him advice but doesn't actually exist? That Peter Navarro?
You forgot to mention morons like Larry Kudlow & Steve Moore.
How about Stephen Calk who has been banned by the banking industry?
Then you get to Trump's major donors who have his ear like Carl Icahn, Tom Barrack, Andy Beal, Stephen Feinberg et al.
Don't forget to get that new refrigerator.
Trump went nuts last night when the toilets backed up in Mar A Lago.
He was seen screaming at Hogan Gidly after he was reported by the Crapper Brigade for only flushing 5 times.
In Gidly's defense he told the Brigade that Rudy was in the stall before him & was trying to flush body parts.
FEMA was called because Trump declared the bathroom a disaster site.
You Can't Make This Stuff Up!
I thought you earlier said Trump doesn't have anyone around him to provide any input... well, Navarro is the one. Thank you for glossing over these details... playing attention certainly isn't your forte
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