Category: Economics, Finance, and Political Economy

WHY YOU ARE WRONG 😉 CHINA DOESN’T MATTER.
–“China accounted for about 2.7% of U.S. personal consumption expenditures (PCE). PCE represents the total spending by households on goods and services and is a broad measure of “ordinary consumption.” Of this 2.7%, less than half (roughly 1.3%) reflected the actual cost of Chinese imports”–

What percent of what you buy comes from china? 1.3%.
How long does it take for any of that business to be repatriated to the USA ending the import, the tariff and the suppression of labor and wages caused by the import? Eighteen months.
Why would you think that any tariff would survive for more than eighteen months?
Is 18 months worth of tariff enough of a cost of repatriating working class jobs?
What about when automation wipes out white collar jobs (which started last year and will accelerate). Will you want the government to implement policy that preserves your employability?

Reply addressees: @MotivationSober @Dre31111 @elonmusk @realDonaldTrump