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Started By
Message
Liberal economist comes to terms with Trump Tariffs
Posted on 1/16/26 at 9:24 am
Posted on 1/16/26 at 9:24 am
LINK
Written by Robert Kuttner. Founder of the Economic Policy Institute, economics professor and liberal activist.
Written by Robert Kuttner. Founder of the Economic Policy Institute, economics professor and liberal activist.
quote:
China’s trade surplus with the entire world hit an all-time record of $1.19 trillion in 2025, Beijing just announced. But here’s the stunner in the report. China’s surplus with the U.S. declined by 22 percent. The reason: U.S. tariffs on Chinese exports average over 50 percent.
That’s a good outcome, since China’s chronic trade surplus is based on illegal mercantilist policies, including currency manipulation, subsidies, and domestic market protection, that cost the U.S. and other nations jobs. In the past, the main loser has been the United States. China simply diverted subsidized exports to other nations with lower tariffs.
quote:
Trump’s policies have raised the average tariff rate from about 2.4 percent in late 2024 to 17 percent by late 2025, the highest in nearly a century. A disaster, right? Well, maybe not quite.
quote:
For starters, inflation is running below projections.
quote:
Tariffs have had surprisingly little impact on higher consumer prices. “Tariff pass-through to consumers has been much milder than anticipated,” Olu Sonola, head of U.S. economic research at Fitch Ratings, wrote in a recent research note. Yet revenue from tariffs brought in close to $300 billion in 2025, up from about $80 billion in 2024, and is currently on track to produce over $350 billion this year.
quote:
In addition, it’s easy to overstate the impact of tariffs on household costs, since imports are only about 14 percent of GDP. In other words, there are no tariffs on 86 percent of GDP. The high tariff rate on China skews the averages. Excluding China, the effective tariff rate on the rest of the world, adjusting for trade share and exempt categories, is not the average 17 percent. It’s well below 10 percent.
7
Posted on 1/16/26 at 9:27 am to texag7
Posted on 1/16/26 at 9:29 am to texag7
Well, what do ya know. A businessman can do business stuff!
Posted on 1/16/26 at 9:30 am to texag7
He’s obviously not a “orange man bad” TDS diseased Liberal. Pretty damn rare.
Posted on 1/16/26 at 9:35 am to texag7
quote:
Excluding China, the effective tariff rate on the rest of the world, adjusting for trade share and exempt categories, is not the average 17 percent. It’s well below 10 percent.
This is likely the primary adjustment that has softened the blow. When the administration rolled out the first set of tariffs on "liberation day", they were ridiculous across the board tariffs on almost every trading partner around the world without any discernable metric or policy. Since that time the tariffs have adjusted hundreds of times. It's to the point that I doubt that anyone has any idea what the tariff rates are anymore.
The tariffs have adjusted to focus somewhat on specific trading partners and specific sectors. That is how tariffs should be focused. If the tariffs are addressing specific trade policies or protecting specific domestic industries, tariffs become rational.
Posted on 1/16/26 at 9:39 am to TBoy
Yeah Trump’s MO is to shock people into negotiating with him. Give em a good scare and then be very reasonable at the table.
After so many examples of this I am quite surprised so many take him seriously when he says he is going to take Greenland. He just wants the rest of NATO to take it’s defense seriously.
After so many examples of this I am quite surprised so many take him seriously when he says he is going to take Greenland. He just wants the rest of NATO to take it’s defense seriously.
Posted on 1/16/26 at 10:14 am to TBoy
quote:
This is likely the primary adjustment that has softened the blow. When the administration rolled out the first set of tariffs on "liberation day", they were ridiculous across the board tariffs on almost every trading partner around the world without any discernable metric or policy. Since that time the tariffs have adjusted hundreds of times. It's to the point that I doubt that anyone has any idea what the tariff rates are anymore.
The tariffs have adjusted to focus somewhat on specific trading partners and specific sectors. That is how tariffs should be focused. If the tariffs are addressing specific trade policies or protecting specific domestic industries, tariffs become rational.
You sure do say a lot of words here when you simply could have said...
"Yup. Trump was right."
Posted on 1/16/26 at 10:20 am to Floating Change Up
quote:
quote:
This is likely the primary adjustment that has softened the blow. When the administration rolled out the first set of tariffs on "liberation day", they were ridiculous across the board tariffs on almost every trading partner around the world without any discernable metric or policy. Since that time the tariffs have adjusted hundreds of times. It's to the point that I doubt that anyone has any idea what the tariff rates are anymore.
The tariffs have adjusted to focus somewhat on specific trading partners and specific sectors. That is how tariffs should be focused. If the tariffs are addressing specific trade policies or protecting specific domestic industries, tariffs become rational.
You sure do say a lot of words here when you simply could have said...
"Yup. Trump was right."
He is too soft. LowTsoyboy.
This post was edited on 1/16/26 at 10:21 am
Posted on 1/16/26 at 10:22 am to texag7
This person will be put in their place. A chink in the armor is not allowed. They must present a unified front.
Posted on 1/16/26 at 10:25 am to AlterEd
Posted on 1/16/26 at 10:28 am to texag7
quote:But roger said .....
A disaster, right? Well, maybe not quite.
Posted on 1/16/26 at 10:33 am to texag7
Given inflation over the last 5 years, the tariffs have barely been a ripple in the big scheme.
I think we will see more effects in key sectors moving forward. But it hasn’t been an apocalyptic event at all.
I think we will see more effects in key sectors moving forward. But it hasn’t been an apocalyptic event at all.
Posted on 1/16/26 at 10:35 am to the808bass
Printing money creates inflation.
Higher prices for one items means you buy less of another item.
Higher prices for one items means you buy less of another item.
Posted on 1/16/26 at 10:41 am to TFH
quote:
I am quite surprised so many take him seriously when he says he is going to take Greenland.
It’s fricking hysterical that an entire continent took him seriously or at the very least are attempting to win a propaganda war against him by sending their own troops to be put in harm’s way for “le extreme environmental le exercise”
Those poor bastards, I guess the European intellectual class doesn’t realize Greenland has polar bears…lots of them.
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