Would’t a Coyote Tariff be classified as taxing the rich? Have you seen how much those human traffickers charge for bringing illegal aliens and future forced sex workers across the border? Surprised the Border Czar isn’t all over this one. Wait. I’m not surprised at all. Carry on.
The retaliatory duties imposed on U.S. farm exports as a result of the Trump administration’s tariffs cost the American ag sector $27 billion from mid-2018 through 2019, according to a new analysis by USDA’s Economic Research Service.
The study shows that U.S. soybean, sorghum and pork exports were the hardest hit by the retaliatory tariffs, and farmers in the Midwest bore the majority of those losses.
The U.S. first levied Section 232 tariffs on a slew of countries to punish them for steel and aluminum exports to the U.S., a situation the U.S. said was threatening national security. Next, the U.S. hit China with Section 301 tariffs after talks for a trade deal faltered.
Canada and Mexico were at first spared the Section 232 tariffs, but that changed when trade negotiations to rewrite the North American Free Trade Agreement soured.
Both Mexico and Canada retaliated, but the Mexican tariffs hit U.S. ag particularly hard. Mexico levied new import taxes on U.S. cheese, pork, potatoes, apples and other commodities. The tariffs started out as 10-15% and then rose to 20-25%.
The U.S. cancelled the Section 232 tariffs on Mexico and Canada after a deal was reached on the FTA. The Mexican and Canadian tariffs also ended, but retaliatory duties levied by China are still in place.
Last March, Congress, at the behest of Biden, passed the American Rescue Plan, a $1.9-trillion stimulus bill, which provided financial support for households, businesses, and state and local governments.
The jobless rate is now below four per cent, and Powell and his colleagues at the Fed are preparing to raise interest rates on the grounds that the economy is approaching “maximum employment” and inflation has risen sharply.
The inflation spike presents a grave political challenge to the White House, of course—in the twelve months to November, the Consumer Price Index rose by 6.8 per cent—but it’s only part of the economic story.
For the past year, Biden and the Democrats have done a less than stellar job of emphasizing the other part of their record: in terms of jobs and income, the rebound from the economic plunge that accompanied the first wave of COVID-19 has been far more rapid than most economists expected.
Last February, for example, the nonpartisan Congressional Budget Office predicted that the unemployment rate wouldn’t dip below four per cent until the first quarter of 2026—four years from now.
✁
In his remarks on Friday, Biden also emphasized that the labor-force-participation rate has rebounded significantly, and that workers, especially low-wage workers, have enjoyed substantial gains over the past year.
“Women and men who work in the frontline jobs—in restaurants, hotels, travel, tourism, desk clerks, line cooks, waitstaff, bellmen—they all saw their wages at a historic high, the highest in history,” he said. “Their pay went up almost sixteen per cent this year, far ahead of inflation, which is still a concern.”
Baslim the Beggar Premium Member almost 3 years ago
It is from 2018.
Truth Seeker almost 3 years ago
Those that think in two dimensions will not understand this because they cannot think in three dimensions!
B 8671 almost 3 years ago
Wow, he found a republigoon skunk.
Cornelius Noodleman almost 3 years ago
You can’t unsmell a skunk.
RobinHood almost 3 years ago
Actually the current administration has created quite a boon for coyotes.
Count Olaf Premium Member almost 3 years ago
Would’t a Coyote Tariff be classified as taxing the rich? Have you seen how much those human traffickers charge for bringing illegal aliens and future forced sex workers across the border? Surprised the Border Czar isn’t all over this one. Wait. I’m not surprised at all. Carry on.
Twelve Badgers in a Suit Premium Member almost 3 years ago
Oh, I guess hinky-dinky is bad.
Silly Season almost 3 years ago
The retaliatory duties imposed on U.S. farm exports as a result of the Trump administration’s tariffs cost the American ag sector $27 billion from mid-2018 through 2019, according to a new analysis by USDA’s Economic Research Service.
The study shows that U.S. soybean, sorghum and pork exports were the hardest hit by the retaliatory tariffs, and farmers in the Midwest bore the majority of those losses.
The U.S. first levied Section 232 tariffs on a slew of countries to punish them for steel and aluminum exports to the U.S., a situation the U.S. said was threatening national security. Next, the U.S. hit China with Section 301 tariffs after talks for a trade deal faltered.
Canada and Mexico were at first spared the Section 232 tariffs, but that changed when trade negotiations to rewrite the North American Free Trade Agreement soured.
Both Mexico and Canada retaliated, but the Mexican tariffs hit U.S. ag particularly hard. Mexico levied new import taxes on U.S. cheese, pork, potatoes, apples and other commodities. The tariffs started out as 10-15% and then rose to 20-25%.
The U.S. cancelled the Section 232 tariffs on Mexico and Canada after a deal was reached on the FTA. The Mexican and Canadian tariffs also ended, but retaliatory duties levied by China are still in place.
~
https://www.agri-pulse.com/articles/17053-usda-trump-tariffs-cost-27b-in-lost-exports-over-year-and-a-half
rw48395 Premium Member almost 3 years ago
It has been a year… I wonder when Stantis is going to come up with Biden stuff?
Silly Season almost 3 years ago
Last March, Congress, at the behest of Biden, passed the American Rescue Plan, a $1.9-trillion stimulus bill, which provided financial support for households, businesses, and state and local governments.
The jobless rate is now below four per cent, and Powell and his colleagues at the Fed are preparing to raise interest rates on the grounds that the economy is approaching “maximum employment” and inflation has risen sharply.
The inflation spike presents a grave political challenge to the White House, of course—in the twelve months to November, the Consumer Price Index rose by 6.8 per cent—but it’s only part of the economic story.
For the past year, Biden and the Democrats have done a less than stellar job of emphasizing the other part of their record: in terms of jobs and income, the rebound from the economic plunge that accompanied the first wave of COVID-19 has been far more rapid than most economists expected.
Last February, for example, the nonpartisan Congressional Budget Office predicted that the unemployment rate wouldn’t dip below four per cent until the first quarter of 2026—four years from now.
✁
In his remarks on Friday, Biden also emphasized that the labor-force-participation rate has rebounded significantly, and that workers, especially low-wage workers, have enjoyed substantial gains over the past year.
“Women and men who work in the frontline jobs—in restaurants, hotels, travel, tourism, desk clerks, line cooks, waitstaff, bellmen—they all saw their wages at a historic high, the highest in history,” he said. “Their pay went up almost sixteen per cent this year, far ahead of inflation, which is still a concern.”
The facts, though, back up Biden here.
~
https://www.newyorker.com/news/our-columnists/joe-biden-starts-to-make-his-economic-case
dalton9529 almost 3 years ago
The American farmers sure owned those libs.
MichaelSFC90 almost 3 years ago
Which animal is Kamala Harris?