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REAGAN: “When someone says let’s impose tariffs, it may look like they’re doing the patriotic thing… but over the long run trade barriers hurt every 🇺🇸 worker.” 🇨🇦 Ontario just ran this👇🏽powerful ad using Reagan’s voice against Trump’s trade war during game 7 of the ALCS ⚾️

272,464 Aufrufe • vor 10 Monaten •via X (Twitter)

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🇺🇸Trump’s Tariff Plan Explained: Destroy or Help The US Economy? Trump describes tariffs as his "favorite word." To understand the concept, think of it like this: Imagine you’re an accountant seeking business referrals. You meet someone who sells auto insurance, and you agree to exchange referrals equally. A month later, you’ve given them five referrals, but they haven’t given you any. You now have a "referral deficit" while they have a "referral surplus." This is similar to a trade deficit versus a trade surplus. Now, on a larger scale, the U.S. has a global trade deficit of $1.1 trillion, meaning it has provided $1.1 trillion more business to other countries than it has received. China, on the other hand, has a trade surplus of $823 billion, receiving more business than it gives. Trump’s use of tariffs is an attempt to address these imbalances and renegotiate trade deals. Tariffs are tools that governments can use to create leverage in trade negotiations. Historically, tariffs have been used as a form of taxation on imports, dating back to the Roman Empire and becoming prominent in the mercantilist policies of the 16th and 18th centuries. Economist Adam Smith, known for his book Wealth of Nations, argued that tariffs can disrupt free trade, but he noted 2 exceptions: protecting industries critical to national security and counteracting tariffs imposed by other nations. These points remain relevant in modern trade discussions. When examining trade surpluses and deficits globally, China leads with a significant surplus, while countries like the U.S., UK, and India experience deficits. Tariffs can serve as leverage to balance these relationships and ensure fair trade practices. Understanding tariffs and trade negotiations is key to grasping how governments seek to protect their economies and industries in a globalized world. Source: Patrick Bet-David , @ValuetainmentTV

Mario Nawfal

322,734 Aufrufe • vor 1 Jahr

Here’s the original clip of Ronald Reagan from April 25, 1987, where he delivered a complete and total rebuke against tariffs. Trump is calling Reagan’s words in this video “FAKE” and “fraudulent.” They’re 100% real. And the original clip is actually far worse for Trump, as much is left out of the ad. Watch this clip and read the full transcript: Throughout the world, there's a growing realization that the way to prosperity for all nations is rejecting protectionist legislation and promoting fair and free competition. Now, there are sound historical reasons for this. For those of us who lived through the Great Depression, the memory of the suffering it caused is deep and searing. And today, many economic analysts and historians argue that high tariff legislation passed back in that period, called the Smoot-Hawley tariff, greatly deepened the depression and prevented economic recovery. You see, at first when someone says, let's impose tariffs on foreign imports, it looks like they're doing the patriotic thing by protecting American products and jobs. And sometimes for a short while, it works, but only for a short time. What eventually occurs is, first, homegrown industries start relying on government protection in the form of high tariffs. They stop competing and stop making the innovative management and technological changes they need to succeed in world markets. And then, while all this is going on, something even worse occurs. High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars. The result is more and more tariffs, higher and higher trade barriers, and less and less competition. So soon, because of the prices made artificially high by tariffs that subsidize inefficiency and poor management, people stop buying. Then the worst happens. Markets shrink and collapse, businesses and industry shut down, and millions of people lose their jobs. The memory of all this occurring back in the 30s made me determined when I came to Washington to spare the American people the protectionist legislation that destroys prosperity. Now, it hasn't always been easy. There are those in the Congress, just as there were back in the 30s, who want to go for the quick political advantage, who risk America's prosperity for the sake of a short-term appeal to some special interest group, who forget that more than 5 million American jobs are directly tied to the foreign export business, and additional millions are tied to imports. Well, I've never forgotten those jobs. And on trade issues, by and large, we've done well.

MeidasTouch

3,719,170 Aufrufe • vor 10 Monaten