Blue Press Journal

Tag: tariff

  • Trump should be cautious about making big changes in the economy

    Biden achieved an unprecedented milestone during his presidency, with American jobs growing for forty-eight consecutive months from January 2021 to December 2024. This remarkable accomplishment sets him apart as the only president since at least 1939 to achieve such sustained job growth.

    As Trump prepares to take office, there is a temptation to disrupt the progress made under Biden’s administration. Trump campaigned on the notion that the economy under Biden was in shambles, a claim that was proven false. Despite this, 68% of voters believed the economy was struggling. I guess you can fool some people all the time. 

    The truth is, the Biden administration had numerous successes to celebrate:
    – The unemployment rate started at 6.4% in January 2021 and remained at or below 4% for 30 of the 48 months.

    – Manufacturing jobs surpassed pre-pandemic levels before stabilizing.
    – Household net worth reached a record high of $169 trillion in the third quarter of 2024.
    – In 2023, the annual trade deficit with China was the lowest since 2009

    As Trump considers implementing his tariff agenda, he should proceed with caution. His previous promises to lower prices for essentials like eggs and gas fell short, and the consequences of hasty decisions could be detrimental. 

  • Season 2 of the Trump Show

    Beginning January 20, get ready for Season 2 of Trump Show! I thought we canceled it four years ago?

    Brace yourself for the most trivial and weighty decisions to come straight from Trump’s Oval Office.

    Does Trump really believe that taking over Greenland is crucial for national security? If so, how will he make it happen? If not, why is he picking fights with a NATO ally that helps us with security in the region?

    On more important matters, what actual policies will Trump implement regarding China, Russia, and Iran? Will they actually work? Will he magically bring peace to Ukraine? And how will his trade and tax plans affect the economy? Will his immigration policies benefit the country?

    What about groceries and gas prices plummeting like a lead balloon like he promised? So far, it seems his tiny magical hands are great for making confetti but not so much for slashing prices!

    How can we genuinely trust that tariffs will benefit us without increasing prices for Americans? No economist has reached that conclusion; rather, the evidence suggests that it will exacerbate the situation.

    The time for Trump to just talk is almost up. The political theater of the past few months, where Trump has been on cloud nine and his opponents have been sulking, is coming to an end.

    As President, Trump will be judged by his actions, not his words. And he can’t blame Congress for any failures, since his party controls it. The last time a president had this much power, it didn’t end well for George W. Bush.

    Get ready for the next four years of chaos and uncertainty. Trump’s policies will have serious consequences, both at home and abroad. Our political system, our country, and the world will suffer.

    That’s why it’s up to us in the opposition to try and stop Trump from causing too much damage. A restrained Trump is a slightly less destructive Trump – for the world, our nation, and our democracy.

    We must stand firm for our democracy to endure.

  • I told you so … vote for Trump, vote for TARIFFS

    I hate to say “I told you so,” but… actually, no I don’t. It’s pretty satisfying to be right. Trump has decided to slap tariffs on several countries, which will ultimately be passed on to consumers.

    For those of you who believed that inflation would magically disappear and voted for him in hopes of cheaper eggs, well, surprise! You’ve been deceived, or let’s call it what it is – lied to.

    But hey, don’t take my word for it. Check out this story for some cold, hard facts. Enjoy!

    Trump ‘can’t guarantee’ Americans won’t pay more if tariffs enacted

  • The Effects of Tariffs on Imported Goods…the Trump Promise

    Understanding Tariffs

    Tariffs come in two primary forms: specific tariffs, which are a fixed fee per unit of imported goods, and ad valorem tariffs, which are a percentage of the value of the imported goods. These taxes can be levied for various reasons including protecting domestic industries, generating government revenue, and responding to unfair trade practices.

    Direct Effects on Prices

    One of the most immediate consequences of tariffs is the increase in prices for imported goods. When a government imposes a tariff, it raises the cost of these goods for importers. These costs are usually passed on to consumers, resulting in higher retail prices. For example, if a country imposes a 25% tariff on imported steel, the price of products using that steel—like cars and appliances—will also rise. This leads to inflationary pressures in the economy, affecting not just goods that are directly subject to tariffs, but potentially many related products as well.

    Impact on Domestic Markets

    Tariffs are often implemented to protect domestic industries from foreign competition. In the short term, this can benefit local producers, allowing them to maintain or increase their market share as consumers seek alternatives to more expensive imported goods. However, this protection can also lead to complacency among domestic producers, reducing their incentive to innovate or improve efficiency. Over time, failing to compete with foreign manufacturers can hinder the growth of a country’s industry.

    Additionally, while some sectors may thrive due to tariffs, others may suffer. Industries that rely on imported raw materials may see their costs rise, leading to higher production costs and reduced competitiveness. This creates a complex dance of winners and losers in the domestic market.

    In summary, Trump’s proposed tariffs will increase costs for the very people he vowed to help by lowering prices.

    Read more in the below article:

    We’re Economists. Here’s What We Really Think Of Trump’s Plan To ‘Lower’ Grocery Prices.