Analysis | Trump’s own top economic adviser gives lie to his trade war rhetoric

By Aaron Blake Aaron Blake Senior political reporter, writing for The Fix Email Bio Follow May 13 at 12:31 PM Whatever you think about President Trump’s escalating trade war with China, he is billing it as something it’s not. He has suggested over and over again that China pays the tariffs, when that’s simply not how tariffs work. They are taxes on imports, paid by U.S. companies. And those costs are often passed down to consumers, in the form of higher prices.

Trump seems to have processed the fact that his own aide contradicted him. On Monday morning, he offered a slightly altered case for who pays the tariffs. This time, rather than saying China was paying them, he said U.S. companies could simply avoid them by not buying Chinese goods — the true intent of the tariffs.

But then Trump couldn’t help himself. He later attributed the relatively strong 3.2 percent annual GDP growth rate in the first quarter to his tariffs. “We reckon it would be about two-tenths of 1 percent of GDP,” Kudlow said. “So it’s a very modest number. We have a $20 trillion GDP.” There’s also the broader point of exactly how much this is directly hurting U.S. consumers. And this chart should put to rest the idea that the tariffs aren’t causing them pain. It looks at the consumer price index for nine tariff-impacted categories and compares it to all other goods. You’ll note that the prices of the other goods have continued a steady decline from before the tariffs were first implemented, while the tariff-impacted categories took a sharp upturn.

Hey, anyone with half a brain knows that tarrifs on Chinese imports will impose a functional tax on importers (squeezing profits) and be all or in part passed along to consumers in increased prices. No trust for this guy's promises that it'll all work out well.

CherylH has 4 followers. Another Putin/Trump troll. Just block.

I wonder what it must be like for an American media source to hate the POTUS so much, that they relish any potential disaster to the Chinese. But just one reason why Trump will win again.

You can't distract from the Muslim in the room...

'Liam Collier', a Russian troll with ZERO followers, knows as much abt economics as does President Bankruptcy.

If tariffs don't work like Wapo & CNN says why do so many countries use them against the USA?

we r see

DOW 21,000 by June.

I believe trump.

Trump doesn't care. It's not his money. Nothing ever has been, hasn't stopped him.

Because that advisor, like Trump, built a career being a fraud on TV.

Ope more Drumpf news from a bunch of pedos

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Should we be concerned about Netflix monetizing our user data?Netflix continues to invest billions of dollars building its library of content, with analysts predicting the company will spend $15 billion on content in 2019. But their business model warrants a closer look, says Jason Mittell. Mittell, a film professor at Middlebury College, joined THINK to discuss why we shouldn’t trust Netflix with our data just yet. THINK I won't renew. THINK Kyrie Celtics tvpatrol
Source: NBCNews - 🏆 10. / 86 Read more »

White House Top Economic Adviser Larry Kudlow Undercuts Trump on TariffsAlex Edelman-Pool/Getty ImagesPresident Trump’s top economic adviser admitted on Sunday that American companies and consumers would have to pay for new tariffs on Chinese goods—undercutting the president, who has repeatedly claimed that China would somehow be paying for the new penalties directly.On unconfirmed. 'the POTUS might.. May trust jimcramer 's idea of who is paying his tariffs, over Kudlow the clown's idea of who is paying the Potus' taxes/tariffs'.. will Potus as Cramer to 'leave his 3000+ ep tv show and Join the White House Team?'.. Folks.. jimcramer is a nice guy.. has a wife and all that new family stuff .. and he May not want to involve himself in voodoo economics. and the use of Voodoo on the bodies known assed as american.. POTUS may want u, but dont do it.. stay safer away from the White house He may have 'undercut' Trump but tried doing so in a soft manner so Trump won't get pissed and take away his well paying job.
Source: YahooNews - 🏆 380. / 59 Read more »

Here's what advisors are telling clients worried about Trump's China trade-war tweetsSome investors might be worried about how a trade war with China would impact their savings. Financial advisors can make sure their clients are taking the right amount of risk. . PUTINtrump2020 GOP = GobblingOrangePoop .
Source: CNBC - 🏆 12. / 72 Read more »

Trump Seeks New $15 Billion Subsidy To Protect Farmers From His Own Trade WarTrump seeks new $15 billion subsidy to protect farmers from his own trade war $15 billion. Well he did say all we need to do is print more money. Geez, this idiot keeps creating the problems which require these billion dollar bailouts to farmers. What about the middle class non-farmers? asytactrain Socialist! 🙄
Source: YahooNews - 🏆 380. / 59 Read more »

Trump is playing the 'long game' in China trade talks: Former White House trade advisorTrump is taking a 'calculated approach' to trade talks with China to get a long-term solution, says Clete Willems, former trade negotiator. Who is buying this? Trump has no long game. He just tries to win each day. Someone needs to start playing the long game on the deficit. He has no game.
Source: CNBC - 🏆 12. / 72 Read more »

The Simple Financial Advice This Top Advisor Gives Her Wealthy Clients: Track Your Burn RateWhen clients know their “burn rate” Inna Kelly says she's able to manage their money better. Regardless of what the market is doing, Kelly advises her clients to keep track of their monthly spending. Right now, I’m the Uber of burn rate...
Source: Forbes - 🏆 394. / 53 Read more »

Trump's own economics adviser just shot down the president's misleading claim that US consumers won't pay for the tariffs in the China trade warWhite House Economics Adviser Larry Kudlow said Sunday 'both sides will suffer' in the escalating trade war between the US and China. Do products from China have a monopoly? Are there no alternatives to Chinese made products? Buy products from other sources. Kudlow is not going to go on TV & pretend like he doesn’t understand how tariffs work. He’s not stupid. He’s not a Trump sycophant.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Trump's top intelligence and military advisers held unusual meeting at CIA on Iran, officials sayNEW: In a highly unusual move, National Security Adviser Bolton convened a meeting at CIA headquarters last week with the Trump admin.'s top intel, diplomatic and military advisers, according to 6 current US officials. Zelensky's team launched a mockery of the people Having declared that the main task for100days is fighting corruption,will sweep it with brooms,there are no personnel No real experienced wrestler was invited, having collected amusing squad of loyal thieves,imitating forPoroshenko Military coup?!!!! The hawks, led by Bolton want a war....CIA intel has lied so often in the past it's terrifying they are meeting with an obstructionist WH - we may not learn the truth until it is too late to stop them from getting us into another war.
Source: NBCNews - 🏆 10. / 86 Read more »