New York Times: Trump Is Winning His Trade War. What Will That Mean for the Economy?

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So everything costs more than it did a year ago but that’s a political victory for HIM?? Yeah, okay.

It's the chaotic, narcissistic WAY trade is being addressed that's the problem. A rational person with a functioning brain could get away with imposing them as a planned, structured "last resort" approach.

Indeed, r2. Those famous egg prices? UP⬆️⬆️⬆️⬆️⬆️

Oh, NYT, your usual right wing soft laundering bullshit. Who wrote that garbage (I canceled my subscription months ago)? Bret Stephens? Ross Douthat? Scott Bessent or Howard Nutlick as guest op-ed writers?

I guess I'll look at the comments on that article, OP -- that should be fun.

"Who wrote that garbage?"

The intrepid NYT sent reporters to a greasy spoon truck stop in Bumfucke, OH to get the pulse of real Amerikkka and write some stories from its methhead customers.

[quote]Those famous egg prices? UP

Thankfully, gas is down to $1.99/gallon. Well, it's $3.39 around me, but the Orange Savior says it's $1.99 somewhere.

The media wouldn't want to ask him exactly where, though.

lol so true R7.

The New York Times is basically Stormfront at this point.

To be honest, the Southern Poverty Law Center ought to start investigating the Times for this pretty virulent bias.

Go ahead and sign those agreements. It’s a great way to sell less of your stuff.

I think people are reacting intensely to the word "winning" here. It is clear in the detail that Ana Sorensen (the writer) means "winning" as in "getting what he wants". Which he is, in many cases. But she does not mean "winning" as in actually being a positive thing for the US economy.

From Ana's detail:

"While the president’s plan for global trade now looks like a political victory, whether it will be an economic success remains much more debatable. The Trump administration has essentially embarked on a vast economic experiment, with tariff levels not seen in the United States since the early 20th century. The rates Mr. Trump is asking other countries to agree to are typically used by poor economies trying to protect nascent industries, not by industrial powerhouses like the United States.

"Mr. Trump and his supporters argue that higher tariffs will encourage many more companies to produce in the United States, creating U.S. factory jobs while having minimal impact on businesses and consumers. The president also insists that foreign governments, not U.S. businesses or consumers, will pay the tariffs, despite longstanding research that shows Americans ultimately bear the brunt.

"Clyde Prestowitz, a former U.S. government official and the founder of the Economic Strategy Institute, said Mr. Trump’s America had “a lot of similarities” with the United States before 1946 and other countries, like China, that built their economies with so-called mercantilist policies, using protectionism to try to amass trade surpluses and wealth.

"But many economists continue to predict that Mr. Trump’s tariffs will result in higher prices both for businesses that import products and for the consumers who buy them. They expect that to slow the economy and backfire, at least somewhat, on the president’s efforts to rev up manufacturing.

"In recent weeks, automakers like General Motors and Volkswagen have reported hits of more than $1 billion from tariffs.

“What’s lost in translation is even as these deals are being cut, the eventual tariff rate is likely to peak around 20 percent, which is up a lot from below 3,” said Diane Swonk, the chief economist at KPMG.

(end of article)

The price of Brie from France might be marginally affected but it's gonna be fun to see how the drastic increase in the price of commodities from Canada will affect dumb deplorables.

I really think Trump would've just quietly dropped the tarrifs as he kept tacoing. He noises the distraction now.

Each time I read shit like this by the NYT it simply reaffirms my decision to unsubscribe after over 30 years during Trump's first administration for constantly normalizing Trump's behavior.

Just the other day, the NYT headlined: "Japan Will Pay Tariffs . . ."

This is how stupid they can be.

Give it 6 months when the economy has crashed hard, we're looking at 15% - 20% inflation, unemployment approaching 10%,, and (my favorite wonky expression) negative GDP growth at -5% to -10%, and get back to us about this "win".

I'll bet most of the posters here didn't even read the article. Go back and read what Torta/R11 posted.

The point is that Trump has had success in browbeating our trade partners (and some elite universities) into making deals so that he can keep telling his base how great he is. And they capitulate to avoid something even worse - in the case of the EU, it's to avoid higher tariffs and to keep Trump engaged with Ukraine.

The U.S. had an enormous amount of economic power around the world and Trump decided to use it like a baseball bat. Yes, he can talk about his "wins" but the piper will be coming for payment before his term ends. If some of these countries get sick of Trump's bullying, it could wind up being a big "win" for China.

News articles after the EU trade agreement was announced indicated that France and Germany were unhappy because the terms were so beneficial to the U.S. Other articles agreed that it does favor the U.S. There are people who think Americans should be unhappy about that?

All I know is that I had a small business shipping goods from the EU to clients in the states. Luxury items. The standard duty rate on what I shipped was 9%. Now it looks like it will be 24%. I know big time luxury brands are not going to "just absorb" that cost. With that on top of a weak dollar, my clients have no reason to shop with me right now. For my sake I hope the prices shoot up in the states beyond affordability and then I will be back in business.

I buy vintage records for my collection, and often times I buy them from sellers in Europe and East Asia. The price for shipping and customs was already costly, I doubt I will be buying any more from outside the US.