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Tag Archives: tariff

Peter Schiff Talks Trade War and Politics

The trade war between the US and China escalated again this week. The US slapped an additional $200 billion in tariffs on Chinese goods. The tax starts at 10% and will increase to 25% by the end of the year. China retaliated by announcing another $60 billion in tariffs on US goods.As Peter Schiff noted in his most recent podcast, people still think the US will win this trade war. They still believe there is some type of method to the madness in that all of these tariffs are simply a down...

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Monetary Consequence of Tariffs, Report 12 August 2018

Last week in Monetary Paradigm Reset, we talked about the challenge of explaining a new paradigm. We said: “The hard part of accepting this paradigm shift, was that people had to rethink their entire view of cosmology, theology, and philosophy. In the best case, people take time to grapple with these challenges to their idea of man’s place in the universe. Some never accept the new idea.” We were talking about the fact that money is the unit of account, and the assertion that irredeemable...

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Peter Schiff: No, It’s Not Easy to Win a Trade War

It looks like Donald Trump is launching a full-blown trade war. Not to worry though. According to the president, a trade war is “easy to win.”When a country is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!”Peter Schiff has a little different take. He said in his podcast last week...

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China Slashes Import Tariffs on Consumer Goods In Boost For Trump And Western Exporters

China announced it is slashing import tariffs on 187 consumer products starting next month. The Finance Ministry pointed to the cuts being concentrated in products in short supply domestically which, it believes, will prompt local producers to improve quality. The items in the list which, includes baby formula, diapers, electric toothbrushes, medicines, cosmetics, coffee machines and whisky, are part of the broader category of consumer goods which account for roughly 30% of total Chinese...

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Trump’s China-Sanctions Madness Imperils the Dollar

Earlier this month, US Treasury Secretary Steven Mnuchin threatened China, saying the US would “put additional sanctions on them and prevent them from accessing the US and international dollar system” if they don’t go along with the most recent round of sanctions slapped on North Korea. We argued that the threat may be meaningful, but it also might be empty.In a recent article published on the Mises Wire, Ryan McMaken added another layer of analysis, arguing that if the US were to follow...

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The Empire Strikes Back: Japan Jacks Up US Beef Import Tariffs To 50%

President Donald Trump’s decision to withdraw the US from the 12-nation Trans Pacific Partnership angered the Japanese, provoking fears of a bruising trade showdown between the world’s largest and third-largest economies. On Friday, the Japanese instituted a new policy that will do little to assuage those concerns. After Japan signed a sweeping trade agreement with the European Union, a move that pundits warned would weaken the US’s position as a dominant player in the global economy, the...

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America Is Hardly A Bastion Of Free Trade

Authored by Andrew Smith via The Mises Institute, Rhetoric has recently trumped reality. It has become a misconceived bit of common “knowledge” that the United States of America is a bastion of free trade. Little could be further from the truth. The “freest” nation on earth, as we are taught to believe, imposes a staggering number of tariffs, import and export bans, sanctions and embargoes. Yet somehow “free trade” is blamed for the financial ills of the unemployed in the formerly industrial...

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Ivory Tower Economist Tries To School Dilbert’s Scott Adams On Trade… Fails

Submitted by Thad Beversdorf via FirstRebuttal.com, Today Donald J. Boudreaux, who is Professor of Economics and Martha and Nelson Getchell Chair for the Study of Free Market Capitalism at the Mercatus Center at George Mason University, wrote an open letter to Dilbert creator Scott Adams.  The letter was a rebuttal to Scott disagreeing with Michigan Rep Justin Amash about Trump’s trade policy. Justin Amash had tweeted out that tariffs will hurt the consumer in higher prices.  Scott...

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Towards An ‘America First’ Trump Trade Policy

Submitted by Patrick Buchanan via Buchanan.org, Donald Trump’s election triumph is among the more astonishing in history. Yet if he wishes to become the father of a new “America First” majority party, he must make good on his solemn promise: To end the trade deficits that have bled our country of scores of thousands of factories, and to create millions of manufacturing jobs in the USA. Fail here, and those slim majorities in Michigan, Pennsylvania and Wisconsin disappear. The...

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Have Hope: Our Opponents Are Economic Imbeciles.

Reprinted from GaryNorth.com I have never had a lot of patience. I suppose this is one of my character flaws. I do not suffer fools lightly. I suppose this is another one of my character flaws. I use strong rhetoric to deal with economic imbeciles. I do not regard this as one of my character flaws. I regard it as one of my strengths. ECONOMIC IMBECILES All around us are economic imbeciles. We find them in the major university economics departments. We find them on the financial media sites....

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