If Donald Trump becomes President, how will it affect our economy?

[irosie91]

I think I've already got enough cheap Chinese, lead filled products in my garage to last a lifetime. It's time for a trade war.

The last real Trade War ended up driving the United States into the Great Depression.

Lol you don't think we have been in a trade war for decades?
Thought I would post this for the people that actually care

LOL- you have a different idea of a Trade War than most people.

Remember Smoot-Hawley: America's last trade war worsened Great Depression
Remember Smoot-Hawley: America's last trade war worsened the Great Depression
In 1930, Congress slapped tariffs on all countries that shipped goods to America in an effort to shield U.S. workers.

It was called the Smoot-Hawley Act, named after two Republicans Congressman, Reed Smoot and Willis Hawley.

And it is widely accepted that it made the Great Depression worse than it would have been.

"Smoot-Hawley really demonstrated what a bad idea tariff increases are," said Alan Deardorff, a trade expert at the University of Michigan.

To get the law passed, Congressmen had to support each others' tariffs. If one needed a tariff to protect textile workers, another needed a tariff to protect farmers. It snowballed, resulting in hundreds of tariffs.

Tariffs for imported eggs went from 8 cents to 10 cents a dozen. Onions rose from 1 cent to 2.5 cents. Sugar, peas and wheat rose too. Those might sound small but this was 1930 after all, and the increases infuriated other nations.

Related: The truth about Trump, trade and U.S. jobs

European countries, such as Spain, Italy and Switzerland, retaliated with tariffs of their own, and a trade war began.

The biggest retaliation came from Canada. Gobsmacked that the U.S. raised tariffs on eggs, Canada raised tariffs on U.S. eggs to 10 cents from 3 cents.

Here's how that worked out: U.S. exports of eggs to Canada fell to about 7,900 dozen in 1932 from 919,000 dozen in 1929.

"It sounds easy that we block imports and create jobs here but we forget about what other countries can do to us," says Doug Irwin, an economics professor at Dartmouth and author of "Peddling Protectionism: Smoot-Hawley and the Great Depression."

there must be a way to do it right

 

[irosie91]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. This in turn has decimated cities that were flourishing not too long ago. It is clear that this has occured because corrupt politicians and consecutive administrations driven by special interests have let it happen.

While I am not for a trade war, I am definitely for tipping the trade scale back to where it is not at a disadvantage to the American economy.

I am not clear on what a trade war is. I do believe that in
business Trump is a BOTTOM LINE type of guy----and as
president of the USA -----that BOTTOM LINE will have to
be ENTIRELY in favor of the USA

Trump is a bottom line kind of guy- he is in for what is best for Trump- not what is best for the United States

nope------if he becomes president----his bottom line will be the USA

 

[TNHarley]

I think I've already got enough cheap Chinese, lead filled products in my garage to last a lifetime. It's time for a trade war.

The last real Trade War ended up driving the United States into the Great Depression.

Lol you don't think we have been in a trade war for decades?
Thought I would post this for the people that actually care

LOL- you have a different idea of a Trade War than most people.

Remember Smoot-Hawley: America's last trade war worsened Great Depression
Remember Smoot-Hawley: America's last trade war worsened the Great Depression
In 1930, Congress slapped tariffs on all countries that shipped goods to America in an effort to shield U.S. workers.

It was called the Smoot-Hawley Act, named after two Republicans Congressman, Reed Smoot and Willis Hawley.

And it is widely accepted that it made the Great Depression worse than it would have been.

"Smoot-Hawley really demonstrated what a bad idea tariff increases are," said Alan Deardorff, a trade expert at the University of Michigan.

To get the law passed, Congressmen had to support each others' tariffs. If one needed a tariff to protect textile workers, another needed a tariff to protect farmers. It snowballed, resulting in hundreds of tariffs.

Tariffs for imported eggs went from 8 cents to 10 cents a dozen. Onions rose from 1 cent to 2.5 cents. Sugar, peas and wheat rose too. Those might sound small but this was 1930 after all, and the increases infuriated other nations.

Related: The truth about Trump, trade and U.S. jobs

European countries, such as Spain, Italy and Switzerland, retaliated with tariffs of their own, and a trade war began.

The biggest retaliation came from Canada. Gobsmacked that the U.S. raised tariffs on eggs, Canada raised tariffs on U.S. eggs to 10 cents from 3 cents.

Here's how that worked out: U.S. exports of eggs to Canada fell to about 7,900 dozen in 1932 from 919,000 dozen in 1929.

"It sounds easy that we block imports and create jobs here but we forget about what other countries can do to us," says Doug Irwin, an economics professor at Dartmouth and author of "Peddling Protectionism: Smoot-Hawley and the Great Depression."

It is trying to damage someones trade. Did you look at my link?

 

[TNHarley]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. This in turn has decimated cities that were flourishing not too long ago. It is clear that this has occured because corrupt politicians and consecutive administrations driven by special interests have let it happen.

While I am not for a trade war, I am definitely for tipping the trade scale back to where it is not at a disadvantage to the American economy.

I am not clear on what a trade war is. I do believe that in
business Trump is a BOTTOM LINE type of guy----and as
president of the USA -----that BOTTOM LINE will have to
be ENTIRELY in favor of the USA

Trump is a bottom line kind of guy- he is in for what is best for Trump- not what is best for the United States

And running billions of dollar trade deficits EVERY YEAR is good for America? LOL

 

[Roudy]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. .

How have they been taking advantage?

Its cheaper to make product in countries with lower wages and other lower costs. That is the essence of capitalism.

It's a long list but start with countries making goods under conditions that would be considered criminal here in the US, and then exporting them to the US with no questions asked. Countries that have child labor, no minimum wage, and no environmental laws, no restrictions. Also, we allow countries that make it almost impossible for US to sell products to (through tariffs or protectionism laws), to openly import goods into the US. Then we have countries who's govt. is openly sponsoring and financing certain industries, in order to compete and destroy certain American industries, and then allowing these same countries to import and conquer American companies and industries who have little or non of the same govt. protection.

Like I said, the list is long but this insanity has to stop.

 

[Roudy]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. This in turn has decimated cities that were flourishing not too long ago. It is clear that this has occured because corrupt politicians and consecutive administrations driven by special interests have let it happen.

While I am not for a trade war, I am definitely for tipping the trade scale back to where it is not at a disadvantage to the American economy.

I am not clear on what a trade war is. I do believe that in
business Trump is a BOTTOM LINE type of guy----and as
president of the USA -----that BOTTOM LINE will have to
be ENTIRELY in favor of the USA

Today's politicians care only about their pockets and power. Hillary Clinton is emblematic of this

 

[nicoleivy5]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. .

How have they been taking advantage?

Its cheaper to make product in countries with lower wages and other lower costs. That is the essence of capitalism.

It's a long list but start with countries making goods under conditions that would be considered criminal here in the US, and then exporting them to the US with no questions asked. Countries that have child labor, no minimum wage, and no environmental laws, no restrictions. Also, we allow countries that make it almost impossible for US to sell products to (through tariffs or protectionism laws), to openly import goods into the US. Then we have countries who's govt. is openly sponsoring and financing certain industries, in order to compete and destroy certain American industries, and then allowing these same countries to import and conquer American companies and industries who have little or non of the same govt. protection.

Like I said, the list is long but this insanity has to stop.

real talk

 

[nicoleivy5]

I think I've already got enough cheap Chinese, lead filled products in my garage to last a lifetime. It's time for a trade war.

The last real Trade War ended up driving the United States into the Great Depression.

Lol you don't think we have been in a trade war for decades?
Thought I would post this for the people that actually care

LOL- you have a different idea of a Trade War than most people.

Remember Smoot-Hawley: America's last trade war worsened Great Depression
Remember Smoot-Hawley: America's last trade war worsened the Great Depression
In 1930, Congress slapped tariffs on all countries that shipped goods to America in an effort to shield U.S. workers.

It was called the Smoot-Hawley Act, named after two Republicans Congressman, Reed Smoot and Willis Hawley.

And it is widely accepted that it made the Great Depression worse than it would have been.

"Smoot-Hawley really demonstrated what a bad idea tariff increases are," said Alan Deardorff, a trade expert at the University of Michigan.

To get the law passed, Congressmen had to support each others' tariffs. If one needed a tariff to protect textile workers, another needed a tariff to protect farmers. It snowballed, resulting in hundreds of tariffs.

Tariffs for imported eggs went from 8 cents to 10 cents a dozen. Onions rose from 1 cent to 2.5 cents. Sugar, peas and wheat rose too. Those might sound small but this was 1930 after all, and the increases infuriated other nations.

Related: The truth about Trump, trade and U.S. jobs

European countries, such as Spain, Italy and Switzerland, retaliated with tariffs of their own, and a trade war began.

The biggest retaliation came from Canada. Gobsmacked that the U.S. raised tariffs on eggs, Canada raised tariffs on U.S. eggs to 10 cents from 3 cents.

Here's how that worked out: U.S. exports of eggs to Canada fell to about 7,900 dozen in 1932 from 919,000 dozen in 1929.

"It sounds easy that we block imports and create jobs here but we forget about what other countries can do to us," says Doug Irwin, an economics professor at Dartmouth and author of "Peddling Protectionism: Smoot-Hawley and the Great Depression."

depression is a serious issue!

 

[FJO]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. This in turn has decimated cities that were flourishing not too long ago. It is clear that this has occured because corrupt politicians and consecutive administrations driven by special interests have let it happen.

While I am not for a trade war, I am definitely for tipping the trade scale back to where it is not at a disadvantage to the American economy.

I am not clear on what a trade war is. I do believe that in
business Trump is a BOTTOM LINE type of guy----and as
president of the USA -----that BOTTOM LINE will have to
be ENTIRELY in favor of the USA

Trump is a bottom line kind of guy- he is in for what is best for Trump- not what is best for the United States

Do you mean to say that all other presidents - with the possible exception of Eisenhower and Reagan - did not consider their own benefit ahead of the benefit of the country?

EVERY SINGLE politician who runs for more than one term is in there for their own selfish reasons and hopes of self enrichment.

 

[Carl in Michigan]

EVERY SINGLE politician who runs for more than one term is in there for their own selfish reasons and hopes of self enrichment.

Then why would you vote for hillary? She's already totally corrupt

 

[Syriusly]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. This in turn has decimated cities that were flourishing not too long ago. It is clear that this has occured because corrupt politicians and consecutive administrations driven by special interests have let it happen.

While I am not for a trade war, I am definitely for tipping the trade scale back to where it is not at a disadvantage to the American economy.

I am not clear on what a trade war is. I do believe that in
business Trump is a BOTTOM LINE type of guy----and as
president of the USA -----that BOTTOM LINE will have to
be ENTIRELY in favor of the USA

Trump is a bottom line kind of guy- he is in for what is best for Trump- not what is best for the United States

Do you mean to say that all other presidents - with the possible exception of Eisenhower and Reagan - did not consider their own benefit ahead of the benefit of the country?

I am saying that Donald Trump has never acted for the betterment of other people in his entire career.

 

[FJO]

EVERY SINGLE politician who runs for more than one term is in there for their own selfish reasons and hopes of self enrichment.

Then why would you vote for hillary? She's already totally corrupt

I have no intention to vote for Clinton. I have no intention to vote for Trump. I have no intention to vote in American elections, since I am Canadian.

Which does not make my observations about American politics any less valid.

 

[Syriusly]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. This in turn has decimated cities that were flourishing not too long ago. It is clear that this has occured because corrupt politicians and consecutive administrations driven by special interests have let it happen.

While I am not for a trade war, I am definitely for tipping the trade scale back to where it is not at a disadvantage to the American economy.

I am not clear on what a trade war is. I do believe that in
business Trump is a BOTTOM LINE type of guy----and as
president of the USA -----that BOTTOM LINE will have to
be ENTIRELY in favor of the USA

Today's politicians care only about their pockets and power. Hillary Clinton is emblematic of this

And Trump isn't? Trump is only about Trump.

 

[Syriusly]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. .

How have they been taking advantage?

Its cheaper to make product in countries with lower wages and other lower costs. That is the essence of capitalism.

It's a long list but start with countries making goods under conditions that would be considered criminal here in the US, and then exporting them to the US with no questions asked. Countries that have child labor, no minimum wage, and no environmental laws, no restrictions. Also, we allow countries that make it almost impossible for US to sell products to (through tariffs or protectionism laws), to openly import goods into the US. Then we have countries who's govt. is openly sponsoring and financing certain industries, in order to compete and destroy certain American industries, and then allowing these same countries to import and conquer American companies and industries who have little or non of the same govt. protection.

Like I said, the list is long but this insanity has to stop.

Well lets talk about that.

Countries that have child labor- certainly something I object to. What is 'child labor'? And I say this as a serious question- because in places like Bangladesh and India you have kids 12 years old working on farms. And also here in the United States. Is it child labor if you have your own kids working on your farm?

Meanwhile- we have countries that have child labor laws that are more restrictive than the United States- should those countries prohibit imports of all American product? These are serious questions when it comes to setting trade policy.

"no minimum wage" Almost every country has a minimum wage- the problem is that just like here the minimum wage is rarely a livable wage, and in many places it is not enforced well. That is not the case in China anymore- China has minimum wage laws and from what I have seen workers get paid more than minimum wage.

"no environmental laws'- and this is a biggie. Lots of countries- from Russia to China to Vietnam have less restrictive environmental laws than the United States- where do we set the line? And once again there are countries with more restrictive environmental laws than the United States- what if they enforce the same kinds of rules to prohibit American imports?

Countries tend to be protective of their industries- and tend to 'bend' the rules to protect industries. We do in the United States. Other countries do it even more successfully- the WTO is the mechanism to fight those protections.

 

[Indeependent]

Why Donald Trump is bad for the global economy
I read an article written by an Anti-Trump person and while there are some bias, he had some good points. I think if you take into account just the global economy, Hillary would do a much better job?
Discuss

Edit: would he be bad just for the American economy or the global economy as well?

There is no GLOBAL Economy; it is an ASIAN economy.

 

[Indeependent]

I think I've already got enough cheap Chinese, lead filled products in my garage to last a lifetime. It's time for a trade war.

The last real Trade War ended up driving the United States into the Great Depression.

No it didn't...excessive off-shoring led to our depression.

 

[Indeependent]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. .

How have they been taking advantage?

Its cheaper to make product in countries with lower wages and other lower costs. That is the essence of capitalism.

You mean slave wages.

 

[Indeependent]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. .

How have they been taking advantage?

Its cheaper to make product in countries with lower wages and other lower costs. That is the essence of capitalism.

It's a long list but start with countries making goods under conditions that would be considered criminal here in the US, and then exporting them to the US with no questions asked. Countries that have child labor, no minimum wage, and no environmental laws, no restrictions. Also, we allow countries that make it almost impossible for US to sell products to (through tariffs or protectionism laws), to openly import goods into the US. Then we have countries who's govt. is openly sponsoring and financing certain industries, in order to compete and destroy certain American industries, and then allowing these same countries to import and conquer American companies and industries who have little or non of the same govt. protection.

Like I said, the list is long but this insanity has to stop.

Well lets talk about that.

Countries that have child labor- certainly something I object to. What is 'child labor'? And I say this as a serious question- because in places like Bangladesh and India you have kids 12 years old working on farms. And also here in the United States. Is it child labor if you have your own kids working on your farm?

Meanwhile- we have countries that have child labor laws that are more restrictive than the United States- should those countries prohibit imports of all American product? These are serious questions when it comes to setting trade policy.

"no minimum wage" Almost every country has a minimum wage- the problem is that just like here the minimum wage is rarely a livable wage, and in many places it is not enforced well. That is not the case in China anymore- China has minimum wage laws and from what I have seen workers get paid more than minimum wage.

"no environmental laws'- and this is a biggie. Lots of countries- from Russia to China to Vietnam have less restrictive environmental laws than the United States- where do we set the line? And once again there are countries with more restrictive environmental laws than the United States- what if they enforce the same kinds of rules to prohibit American imports?

Countries tend to be protective of their industries- and tend to 'bend' the rules to protect industries. We do in the United States. Other countries do it even more successfully- the WTO is the mechanism to fight those protections.

So Chinese making $13.00 per 38 work day is a good thing!
Thanks for the heads up!

 

[Weatherman2020]

Obama will pay for my gas and rent!

 

[irosie91]

Bottom line is Trump is right. Countries have been taking advantage for the last three decades, destroyed our manufacturing and jobs. This in turn has decimated cities that were flourishing not too long ago. It is clear that this has occured because corrupt politicians and consecutive administrations driven by special interests have let it happen.

While I am not for a trade war, I am definitely for tipping the trade scale back to where it is not at a disadvantage to the American economy.

I am not clear on what a trade war is. I do believe that in
business Trump is a BOTTOM LINE type of guy----and as
president of the USA -----that BOTTOM LINE will have to
be ENTIRELY in favor of the USA

Trump is a bottom line kind of guy- he is in for what is best for Trump- not what is best for the United States

Do you mean to say that all other presidents - with the possible exception of Eisenhower and Reagan - did not consider their own benefit ahead of the benefit of the country?

I am saying that Donald Trump has never acted for the betterment of other people in his entire career.

oh-------are you sure? I would not make such a statement about any person simply on the basis of the fact that he is
a rich businessman-----maybe he has