US President Donald Trump on April 2 announced reciprocal tariffs on US trading partners, including 20 percent on goods from the European Union, a move that some experts fear will set off a trade war and cause the world’s economy to tank.
Take trade imbalances for a minute. As an contrived example, we buy $1m worth of steel from Canada, they buy $100k worth of steel from us.
There’s a $900k trade imbalance, and you can tell how trump talks about it, he thinks that means we just gave $900k to Canada for fun.
He completely ignores the part where we traded $1m for $1m worth of steel. We get the fucking steel, it has value, we know it has value because we were willing to pay for it.
But just listen to him talk about trade, he doesn’t understand that basic component of trade. He thinks a $X trade imbalance means we just give that country $X for nothing. He is the dumbest motherfucking idiot on the planet.
We will all get to be that strange old person who won’t discard an orange peel because we lived through the second Great Depression.
trump literally doesn’t understand anything.
Take trade imbalances for a minute. As an contrived example, we buy $1m worth of steel from Canada, they buy $100k worth of steel from us.
There’s a $900k trade imbalance, and you can tell how trump talks about it, he thinks that means we just gave $900k to Canada for fun.
He completely ignores the part where we traded $1m for $1m worth of steel. We get the fucking steel, it has value, we know it has value because we were willing to pay for it.
But just listen to him talk about trade, he doesn’t understand that basic component of trade. He thinks a $X trade imbalance means we just give that country $X for nothing. He is the dumbest motherfucking idiot on the planet.
We will all get to be that strange old person who won’t discard an orange peel because we lived through the second Great Depression.
Pff, not me. I’m going to become a bank robber.