Economics Trumps Trump

“The Mid-Continent Nail plant in Poplar Bluff, Missouri, laid off 60 of its 500 workers last week because of increased steel costs. The company blames the 25% tariff on imported steel. Orders for nails plunged 50% after the company raised its prices to deal with higher steel costs.”
 
See Largest US nail manufacturer ‘on the brink of extinction’ because of the steel tariffs
Trump looks only at the trade deficit. He ignores that tariffs to “punish countries” with trade surpluses is really a tax on USA. What he gave to the economy by cutting taxes (in exchange for huge future indebtedness) and cutting regulations he’s taking away by placing economic sanctions on USA, the folks he promised to serve and protect. So he’s chasing his tail down a rabbit-hole. Everything he claims to have accomplished is a net negative. The biggest tax-cuts went to the wealthy and they raised their pay and left Trump’s voters in the lurch paying higher prices for gasoline, oil and metals. You can add nails and homes to the list and the associated loss of jobs (Harley too…).

Will the last Trump-supporter left please turn out the lights when they leave?

About Robert Pogson

I am a retired teacher in Canada. I taught in the subject areas where I have worked for almost forty years: maths, physics, chemistry and computers. I love hunting, fishing, picking berries and mushrooms, too.
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