The result is that Americans will almost certainly face higher costs as companies pay more for parts they need to build cars, dishwashers and tractors, and then firms turn around and pass those higher prices onto consumers.
.. All of Trumps tariffs so far — on China, on steel and aluminum, on washing machines and on solar panels — will end up costing the average U.S. family $80 a year
.. If Trump continues to pile tariffs on China (he has threatened to do another $100 billion) and China retaliates, then the cost to the average family would rise to $210
.. 45,000 jobs will be lost because of the tariffs Trump has issued so far.
.. They also forecast a small hit to the economy and wages.
.. tariffs will hurt the economy because prices will rise, reducing profits for companies and costing consumers more.
Alternatively, tariffs could cause the U.S. dollar to rise, which usually makes it more difficult for American companies to sell their products abroad, another potential hit to jobs and the economy.
.. “When we lose $500 billion a year … in a trade deficit. When we lose hundreds of billions of dollars in intellectual property theft, not only China but others, we have to stop it. We can’t allow this to happen. So in a certain way, I call people patriots because … short-term you may have to take some problems. Long-term, you’re going to be so happy. You’re going to be so happy.”
.. Trump is calling on Americans to pay higher prices for a while because he thinks it will be worth it if he gets concessions from China and the E.U. It’s what economists and business leaders call a cost-benefit analysis, and Trump is arguing it will be worth it in the end.
.. higher costs don’t hit everyone equally.
The reality is every family isn’t going to pay $80. Some families are likely to pay hundreds or thousands or be the ones losing jobs and livelihoods, while most others probably won’t notice the price increases.
.. Gary Cohn, Trump’s former top economic adviser, went as far as to say Trump’s tariffs could wipe out the entire economic gains of the tax cuts
.. Trump and (most of) his top advisers say this is about winning the big economic war of the 21st century.
China and the United States are fighting for dominance in technology and biotechnology. Trump and his team say the United States won’t win if China keeps stealing American intellectual property and technology secrets.
.. But for the farmer or the small auto parts manufacturer that may have a terrible year or go out of business during the tariff battle, it probably won’t feel worth it.
“An attack on our country.”
.. But a lawful raid on his attorney’s office and hotel room is what prompted the president to use those immensely weighted words. They’re a signal — make that a siren — of how cornered he feels, how monstrously large his belief in his own persecution has grown and what a perilous situation America is in.
.. Some unrelated swipe at perceived enemies or random assertion of potency by a man who cannot bear any image of impotence and is always ginning up distractions, as both a matter of strategy and a function of temperament?
.. He was telling us, yet again, not to trust our own government. And he was reminding us, in shocking fashion, about his readiness to sell (and buy) fictions if they serve his self-interest, which he reliably puts before all else.
.. Even though Cohen is the apparent focus of their interest, Trump, too, must feel hideously exposed. This is a man who refused, despite intense pressure, to release his tax returns
.. Now information that may be much more private, and much more damning, is in strangers’ hands.
.. Trump, during a meeting that was supposed to be about Syria, went on and on about the “disgrace” (he used that word seven times) of Mueller’s investigation
.. It was the full martyr complex and all the greatest hits in one meltdown. Mike Pence sat stone-faced on one side of him, John Bolton without much expression on the other. It’s hard to imagine either of them having the rapport with Trump to calm him down.
.. There is no Hope Hicks anymore, no Rob Porter, no Gary Cohn, no H. R. McMaster: The ranks of people who either gave Trump a sense of comfort and stability or sought to steer him away from his most destructive impulses have thinned. He’s more alone than ever. He must be more frightened, too.
But not half as scared as the rest of us should be.
Tom Bossert is leaving as homeland security and counterterrorism adviser, an abrupt departure that comes as President Donald Trump’s new national security adviser moves to establish power.
.. Mr. Bossert’s position was on the same level as that of John Bolton, who just began as national security adviser on Monday. His departure also came days after Michael Anton, a spokesman for the National Security Council, resigned
.. Mr. Bossert came into the job with high praise from lawmakers from both parties. But after he took the job, current and former staffers at the National Security Council said he repeatedly clashed with former national security adviser Lt. Gen. H.R. McMaster, and they said Mr. Bossert failed to develop a cyberstrategy or a counterterrorism policy as planned.
.. Mr. Bossert’s departure is likely to empower Mr. Bolton
.. Mr. Bossert’s departure was a sign that Mr. Bolton was quickly moving to consolidate power.
.. “This is an assertion of the primacy of the national security adviser,” the person said.
The Drive-bys see Chaos, brain drain. It signals that there is no one left who can contain Trump’s wacko impuses.
It’s not a problem, its an opportunity. Gary Cohn was in favor of the Paris Convention. This is an opportunity to get a Republican Economic Adviser.